Solve the Problem

question 81

Multiple Choice

Solve the problem.
-Sarah Fields wants to borrow $133,000 at 4% to buy a house. How much would she save in total costs by going with a 15-year loan over a 25-year loan?

• A)$28,196
• B)$36,176
• C)$37,373
• D)$33,516

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Definitions:

Sellers

Individuals or entities that offer goods or services for sale in the market.

Excise Tax

A type of tax levied on specific goods, services, or activities, often aimed at discouraging undesirable behaviors or generating revenue.

Latte

A coffee drink made with espresso and steamed milk, often with a small amount of foam on top.

Excise Tax

A type of tax charged on specific goods, such as alcohol and tobacco, often used to discourage their use and generate revenue.