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slavikrds [6]
3 years ago
9

Bennie took out a 30-year loan for $165,000 at 5.2% interest, compounded monthly. If his monthly payment on the loan will remain

$906.03 for the life of the loan, how much will Bennie have paid in interest once the loan is paid off?
A. $165,000
B. $161,170.80
C. $257,400.00
D. $326,170.80
Mathematics
2 answers:
maksim [4K]3 years ago
7 0
Bennie makes 360 payments of $906.03 for a total of $326,170.80. That's $161,170.80 more than the principal amount, so he paid $161,170.80 in interest.
So the answer is B $161,170.80
shusha [124]3 years ago
3 0
The answer would be B. 161,170.80- apex
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