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You bought a ski chalet at Mount Tremblant for $240,000. You borrow the full amount over a 25-year term. The bank quotes you a rate

You bought a ski chalet at Mount Tremblant for

$240,000.

You borrow the full amount over a

25-year

term. The bank quotes you a rate of

5.9%.

You choose to make

payments per year. Over the life of the mortgage, what is the total amount of interest that you pay?

The total amount of interest paid over the life of the mortgage is

$nothing.

(Round to the nearest cent as needed.)

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