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Use PMT P 15 to determine the regular payment amount rounded to the nearest dollar...

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Basic Math

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Use PMT P 15 to determine the regular payment amount rounded to the nearest dollar In terms of paying less in interest which is more economical for a 230 000 mortgage a 30 year fixed rate at 7 or a 20 year fixed rate at 6 5 How much is saved in interest Select the correct choice below and fill in the answer box within your choice Do not round until the final answer Then round to the nearest thousand dollars O A The 20 year 6 5 loan is more economical The buyer will save approximately in interest OB The 30 year 7 loan is more economical The buyer will save approximately in interest

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