Tiffany and Jason want to obtain a $72,000 mortgage. Their payments would be $730 for a 15-year mortgage and $579 for a 30-year mortgage. What would be their total savings in interest by using a 15-year mortgage?
A) $27,180
B) $54,360
C) $77,040
D) $131,400
Answer: C
Explanation: C)
360 months × $579 = $208,440
180 months × $730 = $131,400
Savings in interest $77,040
Business
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