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Mathematics, 01.07.2021 03:10 Neko1kat

I'm so confused, please help! A family wants to purchase a house that costs ​$120,000. They plan to take out a ​$100,000 mortgage on the house and put ​$20,000 as a down payment. The bank informs them that with a​ 15-year mortgage their monthly payment would be ​$745.86 and with a​ 30-year mortgage their monthly payment would be ​$546.01. Determine the amount they would save on the cost of the house if they selected the​ 15-year mortgage rather than the​ 30-year mortgage.

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I'm so confused, please help! A family wants to purchase a house that costs ​$120,000. They plan to...

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