Answer :
From the information provided, it is deduced that:
1. Total Interest Paid: The entire amount of interest that Demarco and Tanya will pay over the life of their loan is [tex]$0.
2. Total Cost Including Purchase Price: The total cost, including the purchase price of the item they are financing, is also $[/tex]0.
3. Comparison with Fixed-Rate Mortgage: The amount paid using this method is [tex]$0 more than what they would pay in total using the fixed-rate mortgage.
Since all these values are determined to be $[/tex]0, it implies that there might have been missing data required to perform actual calculations. Therefore, it's important to focus on ensuring all relevant details are present when faced with similar real-life scenarios.
1. Total Interest Paid: The entire amount of interest that Demarco and Tanya will pay over the life of their loan is [tex]$0.
2. Total Cost Including Purchase Price: The total cost, including the purchase price of the item they are financing, is also $[/tex]0.
3. Comparison with Fixed-Rate Mortgage: The amount paid using this method is [tex]$0 more than what they would pay in total using the fixed-rate mortgage.
Since all these values are determined to be $[/tex]0, it implies that there might have been missing data required to perform actual calculations. Therefore, it's important to focus on ensuring all relevant details are present when faced with similar real-life scenarios.
