Cameron borrows $180,000 for a home mortgage with monthly payments. The mortgage is for 15 years at 3.68% interest. How much total interest will Cameron pay over the life of the loan?

a. $54,496.49 b. $180,000.00 c. $234,496.49 d $552.00

Charlie has a 25-year home mortgage. He borrowed $275,000 at a rate of 3.65% (fixed). How much of his first monthly mortgage payment will go towards interest (as opposed to principal)?

a. $562.48 b.$836.46 c. $144,681.01 d. $834.75

Carly has a 34-year home mortgage. She borrowed $153,000 at a rate of 3.55% (fixed). How much of her first monthly mortgage payment will go towards principal (as opposed to interest)?

a. $2,388.33 b.$646.26 c. $452.63 d. $193.64

Luke has a 30-year home mortgage. He borrowed $213,000 at a rate of 3.35% (fixed). How much of his first monthly mortgage payment will go towards principal (as opposed to interest)?

a. $4,288.97 b.$344.09 c. $938.72 d. $594.63

Daniel borrows $120,670 for a home mortgage. The mortgage is for 22 years at 4.21% interest. If Daniel makes an extra principal payment of $50 per month, how much will he pay in total interest over the life of the loan?

a. $64,584.85 b.$144,330.80 c. $423.35 d. $57,102.26