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What is the total amount paid (principal and interest) on a $300,000 15/15 interest only amortizing mortgage ( first 15 yers are interest only and
What is the total amount paid (principal and interest) on a $300,000 15/15 interest only amortizing mortgage ( first 15 yers are interest only and second 15 years are fully amortizing) at 8% if the loan will be fully paid off by the end of the 30th year? Ignore the samll negative remaining balance.
A) $842,630
B) $745,398
C) $887,923
D) $928,346
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