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Compare the monthly payments and total loan costs for the following pairs of loan optiones. Assume...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $50,000 loan. Option 1: a 30-year loan at an APR of 7.65%. Option 2: a 15-year loan at an APR of 7.25%. Find the monthly payment for each option. The monthly payment for option 1 is $ The monthly payment for option 2 is $ (Do not round until...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $170 comma 000 loan. Option 1: a 30-year loan at an APR of 7%. Option 2: a 15-year loan at an APR of 6.5%. Find the monthly payment for each option. The monthly payment for option 1 is $ nothing. The monthly payment for option 2 is $ nothing....
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $180,000 loan. Option 1: a 30-year loan at an APR of 8.5% Option 2 a 15-year loan at an APR of 8%. Find the monthly payment for each option. The monthly payment for option 1 is $ 1,384.04 The monthly payment for option 2 is $ 1,720.17 (Do not...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $30,000 loan. Option 1 : a 30-year loan at an APR of 5.65%. Option 2: a 15-year loan at an APR of 5.25%. Find the monthly payment for each option The monthly payment for option 1 is S The monthly payment for option 2 is $ (Do not round...
-both loans afe fixed rate and have the same closing costs Compare the monthly payments and total loan costs for the following pairs of loan options You need a $30,000 loan. Option 1: a 30-year loan at an APR of 6.65%. Option 2: a 15-year loan at an APR of 6.25%. The monthly payment for option 1 is $ . The monthly payment for option 2 is $|| (Do not round until the final answer. Then round to the nearest...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing You need a $190,000 loan. Option 1: a 30-year loan at an APR of 10% Option 2: a 15-year loan at an APR of 9.5% Find the monthly payment for each option. The monthly payment for option 1 is $ The monthly payment for option 2 is S (Do not round until the...
Can you help me with this question? Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $40,000 loan. Option 1: a 30-year loan at an APR of 8.15%. Option 2: a 15-year loan at an APR of 7.75% Find the monthly payment for each option. The monthly payment for option 1 is $ . The monthly payment for...
Compare the monthly payments and total loan costs for the following pairs of loan aplions. Assume that both loans are fed rate and have the same closing costs You need a $170 000 loan Option 1 a 30 year loan at an APR of 7% Option 2 a 15 year loan at an APR 65% Find the monthly payment for each option The monthly payment for option is The monthly payment for option is (Do not found the final answer...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $ 60,000 loan. Option 1: a 30-year loan at an APR of 6.15% Option 2: a 15-year loan at an APR of 5.75%. 1-The monthly payment for option 1 is: 2- the monthly payment for option 2 is: 3- loan cost for option 1 is: 4- loan coast for...
Can you help me solve this so that I can better understand? Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $50,000 loan. Option 1: a 30-year loan at an APR of 5.55%. Option 2: a 15-year loan at an APR of 5.15%. Find the monthly payment for each option. The monthly payment for option 1 is $-...