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TREMAINE: Wants a one bedroom townhouse in a trendy new development downtown; average cost is $145,000 Is preapproved for a 4.38% interest rate on a

TREMAINE:

  • Wants a one bedroom townhouse in a trendy new development downtown; average cost is $145,000
  • Is preapproved for a 4.38% interest rate on a 30-year fixed mortgage
  • Has saved $15,000 for a down payment

If Tremaine waited until he had $30,000 saved for a down payment, how much total interest will he pay over the course of the mortgage?

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