Mortgage payments are ________ on a 15-year fixed-rate mortgage than on a 30-year fixed-rate mortgage,and ________ is paid on a 15-year mortgage than on a 30-year mortgage; ceteris paribus.
A) lower; less interest
B) lower; less principal
C) higher; less interest
D) higher; more principal
E) higher; more interest
Correct Answer:
Verified
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