You are going to buy a house with a 30-year mortgage. Your interest rate is 5.43%...

 

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You are going to buy a house with a 30-year mortgage. Your interest rate is 5.43% and your payments are $3113.59 per month. If you make only the required payment per month, how much total interest ($) will you have paid once it is paid off? (Note: You need to solve for APV first.) You are going to buy a house with a 30-year mortgage. Your interest rate is 5.43% and your payments are $3113.59 per month. If you make only the required payment per month, how much total interest ($) will you have paid once it is paid off? (Note: You need to solve for APV first.)

Answer rating: 100% (QA)

To find the total interest paid over the life of the mortgage we first need to calculate the total a... View the full answer