Question 1202998
30 year loan multiplied by 12 months per year = 360 months.
360 * 878.44 = 316,238.4
the loan was for 230,000 minus .2 * 230,000 = 184,000.
the total payments made over the life of the loan was 316,238.4.
316,238.4 minus 184,000 = 132,238.4 was the total interest paid over the life of the loan.


the total amount paid if the number of months of the loan times the payment each month.
the total interest paid is the total money paid minus the present value of the loan (this is equivalent to the loan amount).