Most homeowners choose an amortization period of 25 years

Last updated: 6/13/2023

Most homeowners choose an amortization period of 25 years However it is possible to obtai shorter amortizations periods 1 a Complete this table The numbers for the first row can be obtained from Investigation 1 exercise 1a where you calculated the monthly payment on the mortgage amortized over 25 years The Interest saved is the difference between the Total interest paid during the 25 year amortization period and the Total interest paid during the shorter amortization period being calculated Amortization Total period 25 years 20 years 15 years number payments Payment Total amount Total interest paid paid Interest saved 0