##### 16) Sarah Fields wants to borrow \$121,000 at 6.5% to buy a house. How much inter

 Business & Finance Tutor: None Selected Time limit: 1 Day

16) Sarah Fields wants to borrow \$121,000 at 6.5% to buy a house. How much interest would she save by going with a 15-year mortgage over a 25-year mortgage?

A) \$68,752.20

B) \$168,940.20

C) \$85,595.40

D) \$55,321.20

Apr 26th, 2015

D) \$55,321.20

You are looking for the difference between interest paid for a 15 year mortgage or 25 year mortgage. Since some interest will be paid for both, this is why the answer is D--it is the difference between them.

Apr 26th, 2015

6) Irene Farley earns a semimonthly salary of \$7714.27. She has a \$100 adjustment-to-income flexible benefits package, is married, and claims 4 withholding allowances. Find the federal tax withholding to be deducted from her semimonthly paycheck using the percentage method tables.

A) \$1350.93

B) \$3110.17

C) \$1378.93

D) \$1528.26

Apr 26th, 2015

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Apr 26th, 2015
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Apr 26th, 2015
May 28th, 2017
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