Question

Asked Nov 7, 2019

Suppose that

$120 comma 000120,000

is owed on a house after the down payment is made.The monthly payment for principal and interest at

8.08.0%

for 30 yearsis

120120times•7.337657.33765

=
$880.52880.52.

What is the total amount that will be paid for principal and interest?

Step 1

The provided principal amount is $120,000. The interest rate is 8.0% for time period of ...

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