The Roger's applied for a $70,000 mortgage for 30 years at 9%. Since they had a good credit history,
2 answers:
9514 1404 393
Answer:
- 9% payments: $563.24
- 7% payments: $494.75
- monthly savings: $68.49
- 9% total repaid: $202,764.90
- 7% total repaid: $148,423.63
- savings: $54,341.27
Step-by-step explanation:
It works nicely to let a calculator or spreadsheet figure the payment and loan values. The graphing calculator work is attached.
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