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Suppose a lender gives someone a choice between the following two 20-year mortgages of 5185.000 Mortgage A 69% interest
Posted: Thu May 12, 2022 2:32 pm
by answerhappygod
- 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 37 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)