You borrowed $185,000 for 30 years to buy a house. The interest rate is 4.35 percent,...
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You borrowed $185,000 for 30 years to buy a house. The interest rate is 4.35 percent, compounded monthly. If you pay all of your monthly payments as agreed, how much total interest will you pay on this mortgage? You borrowed $185,000 for 30 years to buy a house. The interest rate is 4.35 percent, compounded monthly. If you pay all of your monthly payments as agreed, how much total interest will you pay on this mortgage?
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To calculate the total interest paid on a mortgage we need to use the loan amount interest rate and ... View the full answer
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