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jackie42 jackie42
  • 27-06-2016
  • Mathematics
Answered

determine the difference between the monthly payments on a $120,000 home at 6 1\2% and at 8% for 25 years.

Verified Answer :

Hussain514 Hussain514
  • 27-06-2016

interest = 120000 x 6.5 % x 25 = $ 195,000
interest = 120000 x 8 % x 25 = $ 240,000

Difference = $45000

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