Author Question: Solve the problem.Jackie Rambler purchased a home for $124,000. Oakwood Mortgage Company approved ... (Read 169 times)

casperchen82 · **on:** Feb 26, 2020

Solve the problem.

Jackie Rambler purchased a home for $124,000. Oakwood Mortgage Company approved her loan application for a 22-year fixed-rate loan at 6.25%. Jackie agreed to pay 20% of the purchase price as a down payment. How much interest would she have saved if she made the same loan with the same down payment for 12 years?
◦ $51,901.44
◦ $41,521.15
◦ $37,592.83
◦ $43,592.45

jsm54321 · **Reply #1 on:** Feb 26, 2020

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