Bill is also planning to buy a condo and he needs to finance $115,000. At which mortgage lender will Bill get the better deal? H

Question

2 years ago

15

ow much less will Bill pay with this lender?

1 answer:

IRINA_888 [86] · Answer 1 · 2023-07-08T20:20:38+03:00

The better deal based on the information is mortgage A as it's cheaper.

<h3>How to calculate the better deal?</h3>

From the information given, the loan amount for mortgage A will be:

= 3% × $4500

= $135

The loan amount for mortgage B will be:

= 6% × $7500

= $450

From the information, the better deal is mortgage A.

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