# Jamie purchased a condo in Naples, Florida, for \$699,000. She put 20% down and financed the rest at 5% for 35 years. What are Jamie's total finance charges?    A. \$457,425.60B. \$606,823.20C. \$626,863.20D. \$600,000.00

Question
Asked Dec 17, 2019
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Jamie purchased a condo in Naples, Florida, for \$699,000. She put 20% down and financed the rest at 5% for 35 years. What are Jamie's total finance charges?

 A. \$457,425.60 B. \$606,823.20 C. \$626,863.20 D. \$600,000.00
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Step 1

Given that the total cost is \$699,000 from which 20% down payment was made and remaining was financed at 5% rate. We can determine the finance charges using the steps below:

Step 2
Step 3

To determine the finance charges, we first need to calculate the total co...

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