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You are comparing two options for a $170,000 home mortgage. The first option is a 15-year mortgage ...

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You are comparing two options for a $170,000 home mortgage. The first option is a 15-year mortgage ...

You are comparing two options for a $170,000 home mortgage. The first option is a 15-year mortgage with a 5% annual rate, and the second option is a 30-year mortgage with a 5.5% interest rate. If you want your monthly payment under the first option to be the same as the monthly payment under the 30-year option, how much additional down payment will you need to put down under the 15-year option?

▸ $51,869

▸ $47,946

▸ $9,798

▸ $55,792

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Personal Finance

Edition: 2^nd

Author: Bajtelsmit

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bluerose501 Author

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Thanks for your help!!

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This helped my grade so much Perfect

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