Question

boy ooo boy i tell ya i need yall's help on here this one .....Filomena is deciding between two mortgages for her new home. The first mortgage is an 80/20 mortgage with interest rates of 4.75 and 7.525%, respectively. The second mortgage is a 30-year mortgage with a 5.25% and a $42.56 monthly PMI. If the house price is $100,000, which mortgage payment will be lower initially, and by how much?







A.

80/20 mortgage by $55.01








B.

30-year mortgage by $39.55








C.

80/20 mortgage by $37.25








D.

30-year mortgage by $33.28