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Adam is taking out a $197,000 mortgage. His bank offers him an APR of 4.45%. He wants to compare monthly payments on a 15- and 30- year mortgage. What is the difference in the two monthly payments. a)
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Adam is taking out a $197,000 mortgage. His bank offers him an APR of 4.45%. He wants to compare monthly payments on a 15- and 30- year mortgage. What is the difference in the two monthly payments.

a) 509.68

b) 365.75

c) 402.58

d) 231.87

User Puczo
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6 votes
The answer would be A. 509.68
User Lucretia
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