Mathematics, 18.06.2020 00:57 marineroadrian21
John needs a loan of $120,000 to buy a home. He is given two choices.
Choice 1: 20-year fixed rate at 7% with closing costs of $1500 and no points.
Choice 2: 20-year fixed rate at 6.5% with closing costs of $1500 and 2 points.
Calculate the monthly payments and total closing costs for each choice.
a. What is the monthly payment for choice 1?
b. What is the monthly payment for choice 2?
C. What is the total closing cost for choice 1?
d. What is the total closing cost for choice 2?
e. Which choice is the better deal? Explain.
Answers: 2
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Arandom sample of 150 high school students were asked whether they have a job. the results are shown in the table. have a job do not have a job male 48 35 female 41 26 select a ord or phrase from the drop-down menus to correctly complete the statements describing the association.
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John needs a loan of $120,000 to buy a home. He is given two choices.
Choice 1: 20-year fixed rate...
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