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Trava [24]
2 years ago
12

Karen is financing a $285,000 mortgage for 30 years at a fixed rate of 7.15%. What is the total cost of the principal and intere

st after 30 years?
Mathematics
2 answers:
ss7ja [257]2 years ago
6 0
Correct answer: $692,967.60
bija089 [108]2 years ago
6 0

Answer:

692967/-

Step-by-step explanation:

Given that Karen is financing 285,000 dollars mortgage for 30 years at a fixed rate of 7.15%

Tenure = 30 years

Let us use amortisation calculator to find out the total cost of prinicipal and interest.

WE find that

Equal monthly instalment = 1924.91

Total interest paid = 407967

Total cost                =407967+285000 =692967/-

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Step-by-step explanation:

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Step-by-step explanation:


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