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scoray [572]
3 years ago
9

Frank currently rents an

Mathematics
1 answer:
hammer [34]3 years ago
6 0

9514 1404 393

Answer:

  • monthly payment $690.25
  • total interest $123,490
  • total repaid $248.490
  • difference from rent $9.75

Step-by-step explanation:

Frank's monthly payment will be $690.25.

The total of all payments will be $690.25 × 360 = $248,490.00.

The interest Frank will pay is $248,490 -125,000 = $123,490.00.

The difference between Frank's rent and his loan payment is ...

   $700 -690.25 = $9.75

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