Assume you are purchasing a new house. You obtain a 30-year fixed rate mortgage with a 5.3%
Fantastic news! We've Found the answer you've been seeking!
Question:
Assume you are purchasing a new house. You obtain a 30-year fixed rate mortgage with a 5.3% annual interest rate. The total amount of the mortgage loan is $150,000. How much interest will you pay over the life of the mortgage?
A.$10,488
B.$71,200
C.$61,360
D.$149,880
Posted Date: