You need a 19000 loan option 1 a 30 year loan at apr of 7.5 option 2 a 15 year loan at apr of 6.5 what is the monthly payment for option 1 what is the monthly payment for option 2 what is the total payment of each which loan is better
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You need a 19000 loan option 1 a 30 year loan at apr of 7.5 option 2 a 15 year loan at apr of 6.5
what is the monthly payment for option 1
what is the monthly payment for option 2
what is the total payment of each
which loan is better
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- 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 $160,000 loan. Option 1: a 30-year loan at an APR of 8%. Option 2: a 15-year loan at an APR of 7.5%. Question content area bottom Part 1 Find the monthly payment for each option. The monthly payment for option 1 is $enter your response here. The monthly payment for option 2 is $enter your response here. (Do not round until the final answer. Then round to the nearest cent as needed.)Compare the monthly payment and total payment 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 7.5%. Option 2: a 15-year loan at an APR of 6.5%. Question content area bottom Part 1 Find the monthly payment for each option. The monthly payment for option 1 is $enter your response here. The monthly payment for option 2 is $enter your response here. (Do not round until the final answer. Then round to the nearest cent as needed.) Part 2 Find the total payment for each option. The total payment for option 1 is $enter your response here. The total payment for option 2 is $enter your response here. (Round to the nearest cent as needed.) Part 3 Compare the two options. Which appears to be the better option? A. Option 1 will always be the better option. B. Option 1 is the better option, but only if the borrower…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 $80,000 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%. Question content area bottom Part 1 Find the monthly payment for each option. The monthly payment for option 1 is $ enter your response here. The monthly payment for option 2 is $ enter your response here.
- K 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 $110,000 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 $ The monthly payment for option 2 is $ (Do not round until the final answer. Then round to the nearest cent as needed.)K 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 $160,000 loan. Option 1: a 30-year loan at an APR of 9%. Option 2: a 15-year loan at an APR of 8.5%. 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 the final answer. Then round to the nearest cent as needed.) Find the total amount paid for each option. The total payment for option 1 is $ The total payment for option 2 is $ (Use the answers from the previous step to find this answer. Round to the nearest cent as needed.) Compare the two options. Which appears to be the better option? OA. Option 1 is the better option, but only if the borrower plans to stay in the same home for the entire term of the loan. OB. Option 1 will always be the better option.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 $170,000 loan. Option 1: a 30-year loan at an APR of 8.25% Option 2: a 15-year loan at an APR of 7.8% Find the monthly payment for each option. The monthly payment for option 1 is $ enter your response here. The monthly payment for option 2 is $ enter your response here. ( Do not round until the final answer. Then round to the nearest cent as needed.)
- You are considering the following fixed interest rate mortgage loan alternatives: Alternative 1: $180,000 initial loan balance 4.00% annual nominal interest rate 30-year amortization schedule $859.35 monthly loan payment Alternative 2: $195,000 initial loan balance 4.25% annual nominal interest rate 30-year amortization schedule $959.28 What is incremental cost of borrowing the additional $15,000? (A) 0.58% --- Wrong (B) 4.25% (C) 5.8% --- Wrong (D) 7.01%Compare 180,00 mortage options both having fixed rates Option 1 30 year loan with 9 % APR what are the monthly payments what is the total amount paid for option 1 Option 2 180,000 mortage 15 year fixed APR 7.8 what are the total payments for option 2 how many payments for option 2Compare 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 $200,000 loan. Option 1: a 30-year loan at an APR of 7.5%. Option 2: a 15-year loan at an APR of 7%. Find the monthly payment for each option. The monthly payment for option 1 is S The monthly payment for option 2 is S (Do not round until the final answer. Then round to the nearest cent as needed.)
- 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 7.15%. Option 2: a 15-year loan at an APR of 6.75%. Find the monthly payment for each option.Compare the monthly payment and total payment for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $200,000 loan. Option 1: a 30-year loan at an APR of 8.5%. Option 2: a 15-year loan at an APR of 7.5%. 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 the final answer. Then round to the nearest cent as needed.) Find the total payment for each option. The total payment for option 1 is $ The total payment for option 2 is $ (Round to the nearest cent as needed.)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 $110,000 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 $ The monthly payment for option 2 is $ (Do not round until the final answer. Then round to the nearest cent as needed.) Find the total amount paid for each option. The total payment for option 1 is $ The total payment for option 2 is $ (Use the answers from the previous step to find this answer. Round to the nearest cent as needed.) Compare the two options. Which appears to be the better option? OA Option 2 will always be the better option B. Option 2 is the better option, but only if the borrower can afford the higher monthly payhents over the entire term of the loan. O C. Option 1 is the better option, but only if the borrower plans to…