Question

Al Bank is worried about financing of his new home. The house sells for $490,000. If he puts down 20 percent, what will Al's monthly payment be at the following rates? A. 25 years: 4% B. 25 years: 4.25% C. 25 years: 4.50% D. 25 years: 4.75% E. How much interest will he save per month if he takes the loan at 4% rather than at 4.75%?

Answer 1

The answer is A,
how much interest:3675