The interest.
2.25
The interest is 507.38 (approx).
2.25
Subtract 5 dollars.
If a gardener decides to grow carrots, and she could sell these for 50 dollars at the end of the season, and her next best option was to grow potatoes which sold for 60 dollars, the opportunity cost would be the 10 dollars she lost from not growing potatoes.
First choice 15.75, second 18.00, so better by 2.25 a year
The least amount would be $0 at a 0.0% rate of interest - which does exist.
6.85
4% difference on the interest rate of the mortgage. IE: One mortgage could be 7% and the other could be 3% so there is a 4% difference in the interest rate of the two mortgages.
that varies a lot could be up to 12%
She could have to pay $1924.02 in interest.
Interest on 650 @ 4.9% = 650*4.9/100 = 31.85 Interest on 500 @ 5.0% = 500*5.0/100 = 25.00 So the 650 at 4.9% is clearly better.