PA [19] following pair of mortgage loan options for a $120,000 mortgage. Which mortgage loan has the larger total cost (closing costs + the amount paid for points + total cost of interest)? By how much? Mortgage A: 15-year fixed at 7.25% with closing costs of $1400 and 1 point. Mortgage B: 15-year fixed at 5.25% with closing costs of $1400 and 3 points. Use nt to determine the regular payment amount, rounded to the nearest dollar. Consider the Choose the correct answer below, and fill in the answer box to complete your choice. (Do not round until the final answer. Then round to the nearest dollar as needed.) OA. Mortgage B has a larger total cost than mortgage A by S OB. Mortgage A has a larger total cost than mortgage B by S
PA [19] following pair of mortgage loan options for a $120,000 mortgage. Which mortgage loan has the larger total cost (closing costs + the amount paid for points + total cost of interest)? By how much? Mortgage A: 15-year fixed at 7.25% with closing costs of $1400 and 1 point. Mortgage B: 15-year fixed at 5.25% with closing costs of $1400 and 3 points. Use nt to determine the regular payment amount, rounded to the nearest dollar. Consider the Choose the correct answer below, and fill in the answer box to complete your choice. (Do not round until the final answer. Then round to the nearest dollar as needed.) OA. Mortgage B has a larger total cost than mortgage A by S OB. Mortgage A has a larger total cost than mortgage B by S
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 19E
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