SOLUTION: PLEASE HELP ME I URGENTLY NEED IMMEDIATE HELP ON THIS PROBLEM: " Ms. Martin was researching the cost of financing $125,000 for a home. She found that the monthly payment for a 6.

Question 384016: PLEASE HELP ME I URGENTLY NEED IMMEDIATE HELP ON THIS PROBLEM:
" Ms. Martin was researching the cost of financing $125,000 for a home. She found that the monthly payment for a 6.875% loan for 30 years would be $821.16 per month. She found that the monthly payment for a 6.875% loan for 20 years would be $959.77 per month"
1)write and solve an equation to find the amount of interest she would pay altogether for the 30-year loan.
Thank yo SO much for your help!( could yall please show work so i understand better?)
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
interest = payments - principle

for 30 yr ___ i = (30 * 12 * 821.16) - 125000

for 20 yr ___ i = (20 * 12 * 959.77) - 125000
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