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Espen purchased his first home at a price of $250,000. He put down $50,000 and took out a 15-year 3.25% mortgage for the $200,000 balance.

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Espen purchased his first home at a price of $250,000. He put down $50,000 and took out a 15-year 3.25% mortgage for the $200,000 balance. If he makes all monthly payments as expected for this loan, what is the total interest he will pay? $1,405.34 $155,460.60 $52,960.76 $252,960.76

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