Filomena is deciding between two mortgages for her new home. The first
mortgage is an 80/20 mo...
Mathematics, 25.03.2020 18:02 khuak877
Filomena is deciding between two mortgages for her new home. The first
mortgage is an 80/20 mortgage with interest rates of 4.75 and 7.525%,
respectively. The second mortgage is a 30-year mortgage with a 5.25% and a
$42.56 monthly PMI. If the house price is $100,000, which mortgage payment
will be lower initially, and by how much?
O
A. 30-year mortgage by $39.55
O
B. 80/20 mortgage by $55.01
O
C. 30-year mortgage by $33.28
O
D. 80/20 mortgage by $37.25
Answers: 1
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