document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=351643>Question 351643</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You now need to secure a mortgage. Assume there are no closing costs or fees and you are taking out a conventional mortgage loan. The amount you owe is $135,000. You have two loans to choose from:\r<BR>\n" );
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document.write( "Loan A is a 30-year fixed loan at 7.5%<BR>\n" );
document.write( "Loan B is a 15-year fixed loan at 6.5%\r<BR>\n" );
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document.write( "Assume you have exactly $1150 a month to spend on the mortgage, which loan would you choose? Explain your reasoning.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #251260 by </B><A HREF=/tutors/aboutme.mpl?userid=rfer><B>rfer(16322)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rfer><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=251260\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> R=(P(r/12))/(1-(1+r/12)^12t)<BR>\n" );
document.write( "R=payment </SPAN>\n" );
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