Suppose you have had some financial trouble recently, and yo…
Suppose you have had some financial trouble recently, and your credit score is not so great. You apply for a 30-year mortgage and are told that your monthly payment will be $2200.00. Your friend, with a much better credit score, applies for a 30-year mortgage for the same amount and is told that her monthly payment will be $2050.00. Calculate how much extra you will be paying compared to your friend (over the 30-year term of the mortgage). Write ONLY your answer in the response box. Show your work which justifies your answer ON YOUR PAPER.