In terms of paying less in interest which is more economical

Last updated: 10/11/2023

In terms of paying less in interest which is more economical for a 140 000 mortgage a 30 year fixed rate at 8 or a 15 year fixed rate at 7 5 How much is saved in interest Use the following formula to determine the regular payment amount PMT PA 1 nt Select the correct choice below and fill in the answer box within your choice Do not round until the final answer Then round to the nearest thousand dollars A The 15 year 7 5 loan is more economical The buyer will save approximately OB The 30 year 8 loan is more economical The buyer will save approximately in interest in interest