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
