Reviewed for test tomorrow TUE 12/11 on Chapter 3.
LINK to mortgage calculator. We used the mortgage calculator to see that a $200,000 loan at 4% for 15 yrs was not twice the payment of the same loan for 30 yrs, but it did save us 1/2 the interest. Good to pay a slightly higher monthly payment so you pay off the loan more quickly and save yourself a lot of interest.
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