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Stephen as just purchased a home for $164,000. A mortgage company has approved his loan application for a 30-year fixed-rate loan at 5.00%. Stephen has
Stephen as just purchased a home for $164,000. A mortgage company has approved his loan application for a 30-year fixed-rate loan at 5.00%. Stephen has agreed to pay 30% of the purchase price as a down payment. Find the total interest Stephen will pay if he pays the loan on schedule. Table is based on monthly payment of principal and interest per $1,000 of the amount financed.
The total interest is $....?
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