Mathematics, 21.04.2021 17:00 jtgarner402

Jacqueline 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
$58.30 monthly PMI. If the house price is $145,000, which mortgage payment
will be lower initially, and by how much?
A. 30-year mortgage by $49.93
B. 80/20 mortgage by $41.34
C. 80/20 mortgage by $50.62
D. 30-year mortgage by $33.56

Answers: 2

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Jacqueline is deciding between two mortgages for her new home. The first mortgage is an 80/20 mort...