Question
You purchase a house and obtain a 25-year loan of $190,000 at an annual interest rate of 8.25%. (Round your answers to the nearest cent.)(a)
You purchase a house and obtain a 25-year loan of $190,000 at an annual interest rate of 8.25%. (Round your answers to the nearest cent.)(a) What is the mortgage payment?
$
(b) What is the total of the payments over the life of the loan?
$
(c) Find the amount of interest paid on the mortgage loan over the 25 years.
$
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
