Nicole is deciding between two mortgages for her new home. The first
mortgage is an 80/20 mortgage with interest rates of 4.75 and 7.525%,
respectively. The second mortgage is a 30-year mortgage with a 5.25% and a
$62.20 monthly PMI. If the house price is $175,000, which mortgage payment
will be lower initially, and by how much?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Nicole is deciding between two mortgages for her new home. The first mortgage is an 80/20 mortgage with interest rates of 4.75 and 7.525%, ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What is the simplified answer? 13x + 6 - 8x - 2
Answers (2)
Write an equation to match the situation: A canister of hot chocolate mix has 16oz in it. To make a cup of hot chocolate, c ounces of mix is removed from the canister.
Answers (1)
A Statistics class is estimating the mean height of all female students at their college. They collect a random sample of 36 female students and measure their heights. The mean of the sample is 65.3 inches. The standard deviation is 5.2 inches.
Answers (1)
The product of - 2 and a number minus six is greater than - 18.
Answers (1)
A pencil cost $3.50 and a pen coast $6.70. Jessica bought m pens. She also bought 4 fewer pencils than pens. Write an algebraic expression for the total amount she spent.
Answers (2)
New Questions in Mathematics
On your tenth birthday, you received 500 which you invested at 9.5% interest, compounded annually. your investment is worth $2500. how old are you today?
Answers (1)
What is the probability that a random sample of 20 eggs from the same distribution will have a mean hatch time between 52 and 60 days?
Answers (1)
A recipe calls for their ratio of sugar to flower to be 10.3. If you use 70 ounces of sugar how many ounces of flour would you need to use?
Answers (1)
Thinking Critically You think that $39,500 is a good salary and are interested in a job with Fast Pax. What other information might you want to know about Fast Pax salaries, and why?
Answers (1)
Find the percent of error if the estimate is $230 and the actual amount is $245. round to the nearest whole percent.
Answers (1)