Business, 26.03.2020 02:26 clinton1790

A homeowner could take out a 15-year mortgage at a 5.5 percent annual rate on a $195,000 mortgage amount, or she could finance the purchase with a 30-year mortgage at a 6.1 percent annual rate. How much total interest over the entire mortgage period could she save by financing her home with the 15-year mortgage (to the nearest dollar)?

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A homeowner could take out a 15-year mortgage at a 5.5 percent annual rate on a $195,000 mortgage am...

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