PDF Name: Algebra 2 Trig - Mrs. Lunde

6. You will now consider how much the same house would cost with a mortgage that has a shorter repayment time. Instead of a 30-year fixed rate mortgage, you will find a 15-year fixed rate mortgage for the same amount used above. What is the interest rate for a 15 year fixed rate? _____ What is the new estimated monthly mortgage payment? Show ... ................
................