Leona purchased a home and obtained a 25 year loan of 437,750$ at an annual interest rate of 6.5%. Find the amount of interest paid on the loan over the 25 years. Round answer to nearest cent.
Leona purchased a home and obtained a 25 year loan of 437,750$ at an annual interest rate of 6.5%. Find the amount of interest paid on the loan over the 25 years. Round answer to nearest cent.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Leona purchased a home and obtained a 25 year loan of 437,750$ at an annual interest rate of 6.5%. Find the amount of interest paid on the loan over the 25 years. Round answer to nearest cent.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT