For 20 years, homeowner A and homeowner B both paid $1,500 per month on their 30-year, seven percent mortgages. Homeowner A lived in the same home and paid on the same mortgage the entire period. Homeowner B moved three times, but each time obtained a 30-year, seven percent mortgage and paid $1,500 per month. A's home and B's home both rose in value by two percent per year. After the 20 years, A and B will have the same amount of wealth from their home investments.

Question

For 20 years, homeowner A and homeowner B both paid $1,500 per month on their 30-year, seven percent mortgages. Homeowner A lived in the same home and paid on the same mortgage the entire period. Homeowner B moved three times, but each time obtained a 30-year, seven percent mortgage and paid $1,500 per month. A's home and B's home both rose in value by two percent per year. After the 20 years, A and B will have the same amount of wealth from their home investments.​

Quizplus · Accepted Answer

The Answer is False

For 20 Years, Homeowner a and Homeowner B Both Paid