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?
:
Find the total paid in 30 yrs
30 * 12 * 789.6 = $284,256
Total - principal = interest
284256 - 105000 = $179,256 paid in interest.