Math 1050 - College Algebra
For our second project in this class we were asked to examine a home loan, and to calculate the monthly mortgage payments and their interest if it was a thirty year loan and if it were a fifteen year loan.
Here is my project:
Here is my project:
mortgage_project.docx | |
File Size: | 5813 kb |
File Type: | docx |
In completing this project, it reinforced what I had previously learned about buying a home. When you have the options of a fifteen or thirty year loan, a fifteen year loan is the smarter choice if you can afford the higher monthly payments. A fifteen year loan is the smarter choice because in the long run it saves you money because you're paying less in interest.