Bronson is going to buy a $328,400 house. He has $22,000 to use as a down payment. The interest rate is 6.6%, compounded monthly. Bronson goes to the bank and is approved for a 30-year mortgage, with monthly payments. At the end of 15, Bronson is going to sell the house and move to the B.C. coast. The house appreciates, on average, at a rate of 1.8% each year. 

What is Bronson’s total cost, after selling the house?

Answer rating: 100% (QA)

Total Cost shall consists of down paymentamount of loan and interest paid on loa... View the full answer