You are assuming a 30-year mortgage for $280,000 at 4.5 percent interest.How much would you save in interest if you financed this loan at 4 percent for 20 years?
A) $101,603
B) $102,504
C) $103,520
D) $104,116
E) $105,686
Correct Answer:
Verified
Q81: You are currently borrowing $175,000 to buy
Q82: You have a 20-year,$225,000 mortgage at 4
Q83: You recently assumed a 15-year mortgage for
Q84: You have a 25-year mortgage at 5
Q85: You have a 30-year,$180,000 mortgage.The interest rate
Q87: You just assumed a 30-year mortgage for
Q88: You have decided to pay $1,800 a
Q89: Four years ago,you borrowed $250,000 for 20
Q90: You have a 25-year,$300,000 mortgage at 3.5
Q91: You are borrowing $275,000 for 20 years
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents