Question

The Jackson family borrowed $240,000 to purchase a house and, over thirty years they had to repay 250% of what they borrowed. What is the total amount of money the Jackson family paid for their loan? Brainly

Answer 1

Answer:

Step-by-step explanation:

Given

$Loan = \ 240,000$

$Amount = 250\%$

Required

Determine the total amount

This is calculated by multiplying the loan amount by the percentage:

i.e.

$Payment = Amount\% * Amount$

$Payment = 250\% * \ 200000$

$Payment = \ 500000$

Hence, the total payment is $500000