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Bill is also planning to buy a condo and he needs to finance $115,000. At which mortgage lender will Bill get the better deal? How much less will Bill pay with this lender?

Bill Is Also Planning To Buy A Condo And He Needs To Finance 115000 At Which Mortgage Lender Will Bill Get The Better Deal How Much Less Will Bill Pay With This class=

Sagot :

The better deal based on the information is mortgage A as it's cheaper.

How to calculate the better deal?

From the information given, the loan amount for mortgage A will be:

= 3% × $4500

= $135

The loan amount for mortgage B will be:

= 6% × $7500

= $450

From the information, the better deal is mortgage A.

Learn more about mortgage on:

brainly.com/question/1318711

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