Carlin will pay a total of $45,000 for interests if she buys an $85,000 house.
<h3>What is the interest?</h3>
The interest refers to the amount of money Carlin needs to pay to the bank for the loan.
<h3>How is the interest calculated?</h3>
Total interest: Percentage given of the total loan.
Let's assume Carlin buys an $85,000 house.
- $85,000 - $20,000 (down payment) = $65,000
- $65,000 / 100 x 3.89 = $2528
$2528 would be the annual interest paid for $65,000. However, as Carlin pays her debt the total of money left will decrease and so will do the interest that she pays.
Due to this, the total interest would be approximately $45,000.
Learn mor about interest in: brainly.com/question/2883618
