Question
. You wish to buy a $500,000 house with a fully amortizing loan. You are given two choices for financing. Choice 1: 35 year loan
. You wish to buy a $500,000 house with a fully amortizing loan. You are given two choices for financing.
Choice 1: 35 year loan with interest rates of 6.7% with payments made monthly.
Choice 2: 20 year loan with interest rates of 6.1% with payments made monthly.
How much will you have paid in INTEREST for this house under these two scenarios?
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Financial Trading And Investing
Authors: John Teall
3rd Edition
0323909558, 978-0323909556
