Step-by-step explanation:
If you borrow $120,000 at an APR of 7% for 25 years, you will pay $848.13 per month. If you
borrow the same amount at the same APR for 30 years, you will pay $798.36 per month.
a. What is the total interest paid on the 25-year mortgage? <em>$134,439.</em>
Answer: (-0.0549,-1.0732)
Divide both sides by 5 to get t by itself, then you have your answer
4500 is the answer to this question.