JP 1000 Lecture Notes - Lecture 7: Spring (Season)
11 views3 pages
Get access
Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers
Related Documents
Related Questions
Vivian wants to buy a house. The house she wants is listed for $300,000. If she make 20% down payment, she can get a FRM at 7.2% for 30 years. And Vivian decides to find another house to buy. She negotiates a price of $250,000 for the new house. She also did some looking and found a bank who would only require a $50,000 down payment, but they would charge a higher interest rate of 8.5% for 30 years for the second house.
If she likes both houses equally, should she take the first house with the first lender, or the second house with the second lender? (ie which deal is less expensive?)
A. The second house | ||
B. The first house | ||
C. The two houses cost the same | ||
D. Cannot be determined |