Real Estate Math
A Kansas home buyer is comparing loan options. Loan A: $200,000 at 6.5% for 30 years (factor $6.32/1,000). Loan B: $200,000 at 6% for 15 years (factor $8.44/1,000). What is the monthly payment difference?
A$425 less for Loan A
B$424 less for Loan A✓ Correct
C$524 more for Loan B
D$324 more for Loan B
Explanation
Loan A: 200 × $6.32 = $1,264/month.
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