You wish to take out a $200,000 mortgage. The yearly interest rate on the loan is 4% compounded monthly, and the loan is for 30

Question

3 years ago

6

You wish to take out a $200,000 mortgage. The yearly interest rate on the loan is 4% compounded monthly, and the loan is for 30

years. Calculate the total interest paid on the mortgage.
Round your answer to the nearest dollar.
Do NOT round until you have calculated the final answer.
Do NOT include commas or the dollar sign in your answer.

Mathematics

2 answers:

Ivahew [28] · Answer 1 · 2022-04-10T17:48:00+03:00

Ivahew [28]3 years ago

7 0

Answer:

143,739 but dont inlcude the comma

Step-by-step explanation:

Nastasia [14] · Answer 2 · 2022-04-10T16:14:38+03:00

Nastasia [14]3 years ago

6 0

4% of 200,000 is 8,000 multiplied by 30 years would be 240,000 dollars