Question

With regard to the example given in Question 8 above, if everything else stayed

the same but the term was changed from 15 years to 30 years, this would have
the effect of
a.
b.
increasing the monthly payment by $144
decreasing the monthly payment by $144
increasing the monthly payment by $244
decreasing the monthly payment by $244
d.

Answer 1

decreasing the monthly payment by $244

Explanation:

you start out with $844 - $600 = $244