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:
The third one
Step-by-step explanation:
I believe the answer would be c. $499.75. If you take (360.75-82.75)/(6-2) you get 278/4 which is dollars/hour, and that =69.5 so the rate of increase is $69.50 per hour, therefore if 6 hours produced $360.75 then you +$69.50•2(hours) and get $499.75
The 5 in 42.05 is 5 hundredths <span />
Answer:
D
F
B I think
I
Step-by-step explanation:
