Question

Ron is planning to buy a condo that costs $85,000. At which mortgage lender will Ron get better deal? How much less will Ron pay with this lender? ​

Answer 1

Mortgage Lender A:

.

$85000 - 4500 = 80500$

$80500\times .03 = 2415$

$80500 + 2915 = 82915$

$85000 - 7500 = 77500$

$77500 \times.06 = 4650$

$77500 + 4650 = 82150$

Lender B is the cheapest by $745!!!