Answer:
- 20-year fixed-rate at 7.5%
- $106,219.32
Step-by-step explanation:
The shorter the term, the lower the amount of interest.
The lower the interest rate, the lower the amount of interest.
The loan that has both a shorter term and a lower interest rate will cost less in interest.
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The total of payments for the 30-year loan is 396,232.87.
The total of payments for the 20-year loan is 290,013.55.
The amount saved by taking the shorter loan is the difference of these amounts: $106,219.32.
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You can use an amortization formula, spreadsheet, or a financial calculator to compute the payments for each loan. The total repayment amount is the product of the monthly payment and the number of them, 360 for the 30-year loan; 240 for the 20-year loan.
Answer:
Mixed number: -12 2/15
Improper fraction: -182/15
Step-by-step explanation:
2 4/5 x -5 2/3
First, change into improper fractions
14/5 x -13/3
= -182/15
= -12 2/15
Hope this helps
Answer:
Ano po yung sasagutan dan?
di ko po kasi alam thank you
as long as it is at least a decimal <u>above 0.00</u> then any number is positive.
<h2><u>
yes it is positive.</u></h2>
good luck