One Lender Offers Two Mortgages, a 9-Year Mortgage at 15

Multiple Choice

One lender offers two mortgages, a 9-year mortgage at 15%, and a 23-year mortgage at 12%.For each, find the total of the monthly payments to repay $147,700.Round to the nearest cent.

A) 9-year: $256,471.75, 23-year: $435,602.61
B) 9-year: $269,970.26, 23-year: $435,602.61
C) 9-year: $271,171.14, 23-year: $435,479.32
D) 9-year: $269,958.26, 23-year: $435,726.30
E) 9-year: $270,010.26, 23-year: $435,931.24