Suppose a lender gives someone a choice between the following two 20-year mortgages of 5185.000 Mortgage A 69% interest

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899604
Joined: Mon Aug 02, 2021 8:13 am

Suppose a lender gives someone a choice between the following two 20-year mortgages of 5185.000 Mortgage A 69% interest

Post by answerhappygod »

Suppose A Lender Gives Someone A Choice Between The Following Two 20 Year Mortgages Of 5185 000 Mortgage A 69 Interest 1
Suppose A Lender Gives Someone A Choice Between The Following Two 20 Year Mortgages Of 5185 000 Mortgage A 69 Interest 1 (16.49 KiB) Viewed 36 times
Suppose a lender gives someone a choice between the following two 20-year mortgages of 5185.000 Mortgage A 69% interest compounded monthly three points, monthly payment of S1423 22 Mortgage B 72% Interest compounded monthly one point, monthly payment of 51456 60 Assuming that you can invest money ut 24% compounded monthly, determine the longth of time you must retain the mortgage in order for mortgage A to be the botter choice. Mortgage will be the better choice if the loan is retained for at least months (Round to the nearest hundredth as needed)
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”