SOLUTION: A home with a mortgage of $105,000 for 30 years has mortgage payments of $789.60 per month. Determine the amount of total interest on this mortgage?
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Question 1146130: A home with a mortgage of $105,000 for 30 years has mortgage payments of $789.60 per month. Determine the amount of total interest on this mortgage? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! A home with a mortgage of $105,000 for 30 years has mortgage payments of $789.60 per month. Determine the amount of total interest on this mortgage?
:
Find the total paid in 30 yrs
30 * 12 * 789.6 = $284,256
Total - principal = interest
284256 - 105000 = $179,256 paid in interest.
