The next bigger hundred is 500 .
The next smaller hundred is 400.
487 is nearer to 500 .
Nine thousand, two hundred.
Answer:
a. Total cost of the principal = $217,411.20
b. Interest for the mortgage loan = $104,911.20
Step-by-step explanation:
Total cost of the principal = Monthly payment * Number of years * Number of months in a year = $603.92 * 30 * 12 = $217,411.20
Total cost of the principal of the loan includes the mortgage loan amount and the interest for the mortgage loan. Therefore, the interest for the mortgage loan can be calculated as follows:
Interest for the mortgage loan = Total cost of the principal - Mortgage loan amount = $217,411.20 - $112,500 = $104,911.20