You purchase a house and obtain a 25-year loan of $190,000 at an annual interest rate of
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Question:
You purchase a house and obtain a 25-year loan of $190,000 at an annual interest rate of 8.25%. (Round your answers to the nearest cent.)(a) What is the mortgage payment?
$
(b) What is the total of the payments over the life of the loan?
$
(c) Find the amount of interest paid on the mortgage loan over the 25 years.
$
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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