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Hello, I need help figuring out the total cost of interest, please. Thank you. Use the following amortization chart: Selling price of home $78,000 Down
Hello, I need help figuring out the total cost of interest, please. Thank you.
Use the following amortization chart: Selling price of home $78,000 Down payment $4,000 Principal (loan) $74,000 Payment per $1,000 $5.68 Monthly mortgage payment $420.32 Rate of interest Years 5.5% 0 What is the total cost of interest? (Do not round intermediate calculations. Round your answer to the nearest whole dollar.) Total cost of interestStep by Step Solution
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