Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid. $204,000 at 6.95% for 25 years The monthly payments are $__. (Round to the nearest cent.) The total amount paid on the loan is $__. (Round to the nearest cent.) The total amount of interest paid is $__. (Round to the nearest cent.)
Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid. $204,000 at 6.95% for 25 years The monthly payments are $__. (Round to the nearest cent.) The total amount paid on the loan is $__. (Round to the nearest cent.) The total amount of interest paid is $__. (Round to the nearest cent.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid.
$204,000 at 6.95% for 25 years
The monthly payments are $__.
(Round to the nearest cent.)
The total amount paid on the loan is $__.
(Round to the nearest cent.)
The total amount of interest paid is $__.
(Round to the nearest cent.)
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