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What will be the total cost of Marla's ARM If the term of the loan were 25 or 20 years Instead of 30? Use the variable-rate loan calculator to find the answers. Write them In the spaces below. Compare
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What will be the total cost of Marla's ARM If the term of the loan were 25 or 20 years Instead of 30? Use the variable-rate loan calculator to find the answers. Write them In the spaces below.

Compare the values you just obtained with the total cost of Marla's 30-year variable-rate mortgage. Write down your observations and conclusions.

What will be the total cost of Marla's ARM If the term of the loan were 25 or 20 years-example-1
User Karen Fisher
by
2.8k points

2 Answers

0 votes

Answer:

25 years- $410,601.07

20 years- $350,131.67

Step-by-step explanation:

User Dusty Vargas
by
4.1k points
9 votes

Answer:

25 years= $410,601.07

20 years= $305,131.67

Step-by-step explanation:

User Emazzotta
by
3.6k points
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