Mark takes out a $238,000 mortgage for 30 years. Instead of paying his monthly payment of $1,220.09, he decides to pay $1,420.09

Question

3 years ago

15

Mark takes out a $238,000 mortgage for 30 years. Instead of paying his monthly payment of $1,220.09, he decides to pay $1,420.09

. This leads to Mark paying off the entire mortgage in 22 years and 5 months. Mark calculates the percent of the total loan he pays back in interest with and without the extra payments. What is the difference between Mark’s calculated percentages?
a) 8.1%
b) 13%
c) 37.7%
d) 45.87%

Mathematics

1 answer:

klasskru [66] · Answer 1 · 2022-03-09T02:41:35+03:00

klasskru [66]3 years ago

8 0

Answer:

B

Step-by-step explanation: