February 27, 2017

Homework Help: Math

Posted by kaitlyn Blackmon on Saturday, November 17, 2012 at 2:32pm.

The price of a small cabin is $40,000. The bank requires a 5% down payment. The buyer is offered two mortgage options: 20-year fixed at 8.5% or 30-year fixed at 8.5 %. Calculate the amount of interest paid for each option. How much does the buyer save in interest with the 20-year option?

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions