Question
A homeowner could take out a 30-year mortgage at a 6.1.5 percent annual rate on a $195,000 mortgage amount. How much total interest over the
A homeowner could take out a 30-year mortgage at a 6.1.5 percent annual rate on a $195,000 mortgage amount. How much total interest over the entire mortgage she will pay(to the nearest dollar)?
(Hint: the EXCEL function for cumulative interest could be helpful)
A) $230,400
B) $190,105
C) $155,612
D) $144,325
E) $138,612
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Risk Management And Insurance
Authors: James TrieschmannSandra GustavsonSandra Gustavson, Robert HoytSandra Gustavson, Robert Hoyt, David Sommer
12th Edition
0324183208, 9780324183207
