Mathematics, 21.04.2020 04:31 jayonelijah

Ian has the option of purchasing or renting a home. The purchase option requires a loan of $100,000 for a 20-year term at a 4.9% interest rate. The rental option requires a monthly rental payment of $725. Using the loan amortization formula, how much money does Ian save per month if he purchases the home instead of renting it?

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Ian has the option of purchasing or renting a home. The purchase option requires a loan of $100,000...