MATH SOLVE

2 months ago

Q:
# Mortgage Amount: $146,800.00 APR: 5.25 percent Term: 30 years a. Calculate the monthly payment: $______ b. Calculate the total interest paid: $______

Accepted Solution

A:

divide 146800.00 by 30 to get yearly and then by 12 to get monthly

146800/30/12=407.78

times that by 1.0525 for the monthly interest payment 429.19 is your first answer.

for total interest paid 146800*1.0525= 223870-146800=77,070 the second one which is the answer for hope this helps

146800/30/12=407.78

times that by 1.0525 for the monthly interest payment 429.19 is your first answer.

for total interest paid 146800*1.0525= 223870-146800=77,070 the second one which is the answer for hope this helps