Question

if you were to purchase a 200,000 house, figure out what you would pay for the house if you took out a 20 year loan compared to a 30 year loan with an interest rate of 3.5%

Answer 1

If you took out a 20-year loan for a $200,000 house with a 3.5% interest rate, you would pay $279,256.79 over the life of the loan. If you took out a 30-year loan, you would pay $323,312.64 over the life of the loan.

Step-by-step explanation:

Answer 2

Answer: If you took out a 20-year loan for a $200,000 house with a 3.5% interest rate, you would pay $279,256.79 over the life of the loan. If you took out a 30-year loan, you would pay $323,312.64 over the life of the loan.