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One Lender Offers Two Mortgages, a 19-Year Mortgage at 15 $345,810.00,23\$ 345,810.00,23

Question 75

Multiple Choice

One lender offers two mortgages, a 19-year mortgage at 15%, and a 23-year mortgage at 6%.For each, find the total of the monthly payments to repay $114,200.Round to the nearest cent.


A) 19-year: $345,810.00,23\$ 345,810.00,23 -year: $210,692.00\$ 210,692.00
B) 19-year: $345,830.88,23\$ 345,830.88,23 -year: $210,815.29\$ 210,815.29
C) 19-year: $345,870.88,23\$ 345,870.88,23 -year: $211,143.92\$ 211,143.92
D) 19-year: $328,539.33,23\$ 328,539.33,23 -year: $210,815.29\$ 210,815.29
E) 19-year: $345,842.88,23\$ 345,842.88,23 -year: $210,938.98\$ 210,938.98

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