Question

The Smiths were just approved for a 25 year mortgage at an 11% fixed rate. If they had not filed bankruptcy in the past, they could have gotten a rate of 7%. If their loan amount is $128,000, how much more per month will the Smiths be paying for their mortgage as a result of their bankruptcy? a. $349. 86 b. $125,840. 78 c. $904. 68 d. $235. 09 Please select the best answer from the choices provided A B C D.

Answer 1

A

Explanation:

edge

Answer 2

Answers:

a.$349.86

b.$125,840.78

c.$904.68

d.$235.09

Step-by-step explanation: The Smiths were just approved for a 25 year mortgage at an 11% fixed rate. If they had not filed bankruptcy in the past, they could have gotten a rate of 7%. If their loan amount is $128,000, how much more per month will the Smiths be paying for their mortgage as a result of their bankruptcy?

I would definitely choose a