Question: Question 7 How much total interest will you pay if you borrow $175,000 for 30 years (monthly payments) at 8% annual interest? 212,877.00 319,001.00

Question 7 How much total interest will you pay if you borrow

Question 7 How much total interest will you pay if you borrow $175,000 for 30 years (monthly payments) at 8% annual interest? 212,877.00 319,001.00 287,271.00 462,271.00 Question 8 Compare the following two loans. Loan 1: $175,000, 8% annual interest, 30 years (monthly PMTs) Loan 2: $175,000, 7% annual interest, 15 years (monthly PMTs) How much more total interest do you pay on the 30 year loan vs. the 15 year loan? 179,140.00 100,002.00 108,130.00 287,271.00 3 pts 3 pts

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