Mathematics, 07.11.2020 22:30 jnthnsngh

Mark takes out a $238,000 mortgage for 30 years. Instead of paying his monthly payment of $1,220.09, he decides to pay $1,420.09. This leads to Mark paying off the entire mortgage in 22 years and 5 months. Mark calculates the percent of the total loan he pays back in interest with and without the extra payments. What is the difference between Mark’s calculated percentages? 8.1%
13%
37.7%
45.87%

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Mark takes out a $238,000 mortgage for 30 years. Instead of paying his monthly payment of $1,220.09,...

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