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One Lender Offers Two Mortgages, a 15-Year Mortgage at 16 $341,058.75,19\$ 341,058.75,19

Question 41

Multiple Choice

One lender offers two mortgages, a 15-year mortgage at 16%, and a 19-year mortgage at 6%.For each, find the total of the monthly payments to repay $135,800.Round to the nearest cent.


A) 15-year: $341,058.75,19\$ 341,058.75,19 -year: $227,908.96\$ 227,908.96
B) 15-year: $358,965.87\$ 358,965.87 , 19-year: $228,237.59\$ 228,237.59
C) 15-year: $358,997.21\$ 358,997.21 , 19-year: \$228,032.65
D) 15-year: $358,988.33\$ 358,988.33 , 19-year: $229,117.96\$ 229,117.96
E) 15\quad 15 -year: $359,009.21,19\$ 359,009.21,19 -year: \$227,908.96

Correct Answer:

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