In terms of paying less in interest, which is more economical for a $90,000mortgage: a 30-year fixed-rate at 9.5% or a 15-year fixed-rate at 9%? How much is saved in interest? Use the following formula to determine the regular payment amount. The buyer will save in interest approximately $... (Do not round until the final answer. Then round to the nearest thousand dollars.)
In terms of paying less in interest, which is more economical for a $90,000mortgage: a 30-year fixed-rate at 9.5% or a 15-year fixed-rate at 9%? How much is saved in interest? Use the following formula to determine the regular payment amount. The buyer will save in interest approximately $... (Do not round until the final answer. Then round to the nearest thousand dollars.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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In terms of paying less in interest, which is more economical for a $90,000mortgage: a 30-year fixed-rate at 9.5% or a 15-year fixed-rate at 9%?
How much is saved in interest? Use the following formula to determine the regular payment amount.
The buyer will save in interest approximately $...
(Do not round until the final answer. Then round to the nearest thousand dollars.)
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