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Lloyd and Jean are considering purchasing a home requiring a $75,000 mortgage. The payment

Lloyd and Jean are considering purchasing a home requiring a $75,000 mortgage. The payment

Lloyd and Jean are considering purchasing a home requiring a $75,000 mortgage. The payment ona 30-year mortgage for this amount is $498.97. The payment for a 15 year maturity is $674.12. What is the difference in the total interest paid between the two different maturities? Hint – the total interest will be the amount paid over the principle of the loan.

Tripti 06-Dec-2019

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