Question

A couple needs a mortgage of $300,000. Their mortgage broker presents them with two options: a 30-year mortgage at 8 1/2%
interest or a 15-year mortgage at 7 3/4%
interest. (Round your answers to the nearest cent.)
(a) Find the monthly payment on the 30-year mortgage and on the 15-year mortgage.
30-year $
15-year $

b) Find the total amount to be paid over the life of the 30-year mortgage and on the 15-year mortgage.
30-year $
15-year $

Answer 1

5 consecutive problems from a variety of topics

Sure looks like a home-work dump or you expect us to do some kind of assignment for you.

Show some work and let me know where you got stuck on the others.