Question

A 22-year old college graduate just got a job in Nashville. She
is considering buying a house with a **$150,000**
mortgage. The APR is **14%** compounded monthly for
her monthly mortgage payments on a **32-year fixed rate
loan**. If she can get her FICO score up to 750, the APR
drops to **13.6%**. How much in interest cost will she
save over the life of the loan assuming she can increase her FICO
score to 750?

so using the information i used P = 150000 to find A.

so the Monthly payment for the 14% = $1769.635047

and the monthly payment on 13.6% = $1722.263005

**What is the total interest saved over 30 years Rounding
the answer to the nearest dollar?**

Answer #1

Please do rate me and mention doubts, if any, in the comments section.

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