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?

- Math -
**tam tran**, Thursday, February 12, 2015 at 9:27am
i don't know

## Answer This Question

## Related Questions

- math - The price of a small cabin is $35,000. The bank requires a 5% down ...
- math - The price of a small cabin is $55,000. The bank requires a 5% down ...
- algebra - The price of a small cabin is $85000 the bank requires a 5% down ...
- math - Determine the regular payment amount, rounded to the nearest dollar. The ...
- math - Determine the regular payment amount, rounded to the nearest dollar. The ...
- math - Determine the regular payment amount, rounded to the nearest dollar. The ...
- math - The price of a home is $215,000. The Bank requires 20% down payment and ...
- math - The price of a home is $120,000. The bank requires a 10% down payment and...
- Urgent math - A couple needs a mortgage of $300,000. Their mortgage broker ...
- please help urgent - A couple needs a mortgage of $300,000. Their mortgage ...

More Related Questions