Mathematics, 05.06.2020 23:03, smilingntn33p7pqpp
Mark takes out a $238,000 mortgage for 30 years. Instead of paying his monthly payment of $1,220.09, he decides to pay $1,420.09. This leads to Mark paying off the entire mortgage in 22 years and 5 months. Mark calculates the percent of the total loan he pays back in interest with and without the extra payments. What is the difference between Mark’s calculated percentages?
a) 8.1%
b) 13%
c) 37.7%
d) 45.87%
Answers: 3
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Mark takes out a $238,000 mortgage for 30 years. Instead of paying his monthly payment of $1,220.09,...
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