A to determine the regular payment amount, rounded to the nearest dollar. In terms of paying less in interest, which is more economical nt Use PMT= HT for a $210,000 mortgage: a 30-year fixed-rate at 7% or a 20-year fixed-rate at 6.5%? How much is saved in interest? Select the correct choice below and fill in the answer box within your choice. (Do not round until the final answer. Then round to the nearest thousand dollars.) OA. The 20-year 6.5% loan is more economical. The buyer will save approximately $ B. The 30-year 7% loan is more economical. The buyer will save approximately $ in interest. in interest.
A to determine the regular payment amount, rounded to the nearest dollar. In terms of paying less in interest, which is more economical nt Use PMT= HT for a $210,000 mortgage: a 30-year fixed-rate at 7% or a 20-year fixed-rate at 6.5%? How much is saved in interest? Select the correct choice below and fill in the answer box within your choice. (Do not round until the final answer. Then round to the nearest thousand dollars.) OA. The 20-year 6.5% loan is more economical. The buyer will save approximately $ B. The 30-year 7% loan is more economical. The buyer will save approximately $ in interest. in interest.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Transcribed Image Text:A
to determine the regular payment amount, rounded to the nearest dollar. In terms of paying less in interest, which is more economical
nt
Use PMT=
HT
for a $210,000 mortgage: a 30-year fixed-rate at 7% or a 20-year fixed-rate at 6.5%? How much is saved in interest?
Select the correct choice below and fill in the answer box within your choice.
(Do not round until the final answer. Then round to the nearest thousand dollars.)
OA. The 20-year 6.5% loan is more economical. The buyer will save approximately $
B. The 30-year 7% loan is more economical. The buyer will save approximately $
in interest.
in interest.
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