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Offer 1 Offer 2 Offer 3 Rate 7% 6% 5% Time (years) 30 25 15 Loan Amount $200,000 $200,000 $200,000 Monthly Payment $1,330.60 $1,288.60 $1581.59 Total Financed $479,017.80 $386,580.84 $284,685.71 Carl and Sue are planning to buy a new home. They will both retire in 16 years and do not want to have a house payment at that time. Which loan offer should they choose? My Answer:

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Offer 1 Offer 2 Offer 3 Rate 7% 6% 5% Time (years) 30 25 15 Loan Amount $200,000 $200,000 $200,000 Monthly Payment $1,330.60 $1,288.60 $1581.59 Total Financed $479,017.80 $386,580.84 $284,685.71 Carl and Sue are planning to buy a new home. They will both retire in 16 years and do not want to have a house payment at that time. Which loan offer should they choose? My Answer:

Offer 3

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