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The price of a small cabin is $ style=”color:rgb(0,0,0);”>30,000. The bank requires a 5% down payment. The buyer is offered two mortgage options: 20-year fixed at 9% or 30-year fixed at 9%. Calculate the amount of interest paid for each option. How much does the buyer save in interest with the 20-year option? Find monthly option for 20 year option. round to the nearest dollar

July 30, 2019/in Questions Uploads /by admin

The price of a small cabin is $

style=”color:rgb(0,0,0);”>30,000. The bank requires a 5% down payment. The buyer is offered two mortgage options: 20-year fixed at 9% or 30-year fixed at 9%. Calculate the amount of interest paid for each option. How much does the buyer save in interest with the 20-year option? Find monthly option for 20 year option.

round to the nearest dollar