Answered

IDNLearn.com makes it easy to get reliable answers from experts and enthusiasts alike. Ask anything and receive immediate, well-informed answers from our dedicated community of experts.

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

#SPJ1

We appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. Find clear answers at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.