document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1202998>Question 1202998</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Roberto bought a $230,000 house, paying 20% down, and financing the rest at 4% interest for 30 years. His monthly payments are $878.44. How much will he really pay for his $230,000 house?\r<BR>\n" );
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document.write( "Roberto will pay a total of $ ??? for the house. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #838213 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=838213\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 30 year loan multiplied by 12 months per year = 360 months.<BR>\n" );
document.write( "360 * 878.44 = 316,238.4<BR>\n" );
document.write( "the loan was for 230,000 minus .2 * 230,000 = 184,000.<BR>\n" );
document.write( "the total payments made over the life of the loan was 316,238.4.<BR>\n" );
document.write( "316,238.4 minus 184,000 = 132,238.4 was the total interest paid over the life of the loan.\r<BR>\n" );
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document.write( "the total amount paid if the number of months of the loan times the payment each month.<BR>\n" );
document.write( "the total interest paid is the total money paid minus the present value of the loan (this is equivalent to the loan amount). </SPAN>\n" );
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