Decide whether the statement makes sense. Explain your reasoning.
-I have a fixed-rate 30-year mortgage of $120,000 at 8%. I inherited some money recently.
If I pay off my mortgage in 20 years instead of 30, the total amount of interest I will end up
paying will be less.

Question

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The Answer of Decide whether the statement makes sense. Explain your reasoning.
-I have a fixed-rate 30-year mortgage of $120,000 at 8%. I inherited some money recently.
If I pay off my mortgage in 20 years instead of 30, the total amount of interest I will end up
paying will be less.

Decide Whether the Statement Makes Sense