Finance
A Montana buyer comparing a 15-year mortgage vs. a 30-year mortgage at the same interest rate would find that the 15-year mortgage has:
ALower monthly payments and lower total interest paid
BHigher monthly payments but significantly lower total interest paid over the loan life✓ Correct
CThe same monthly payment with faster equity buildup
DHigher monthly payments and higher total interest paid
Explanation
A 15-year mortgage has higher monthly payments (because the same principal is repaid in half the time) but significantly less total interest paid because the loan balance is outstanding for a much shorter period.
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