Question One: A person is considering taking out a $180,000 mortgage and must choose between a 15-year FRM and a 30-year FRM.   The interest rate on the 15-year mortgage is 2.90 while the interest rate on the 30-year mortgage is 3.40. What are the monthly payments on the two loans? What are the total interest … Continue reading Comparing 15-year and 30-year Mortgages