Question: Suppose you buy a $ 7 0 0 , 0 0 0 house with ' no money down' with a 3 0 year, fixed -

Suppose you buy a $700,000 house with 'no money down' with a 30 year, fixed-rate 7% mortgage paid month starting TODAY. After 30 years you've finally paid off your mortgage.

How much money will you have paid in total interest?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

To calculate the total interest paid over the 30year period for a 700000 house with a 30year fixedra... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!