Mortgage Calc
jasn.lA loan officer states, "Thousands of dollars can be saved by switching to a 15‐year
mortgage from a 30‐year mortgage." Calculate the difference in payments on a 30‐year
mortgage at 9% interest versus a 15‐year mortgage with 8.5% interest. Both mortgages are
for $100,000 and have monthly payments. What is the difference in total dollars that will
be paid to the lender under each loan?
13 years ago
10
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