Brad decided to purchase a $325,000 house. He wants to finance the entire balance. He has received an APR of 3.5% for a 15-year mortgage. Over the course of the loan, how much interest will Brad pay? Round your answer to the nearest hundredth.
Brad decided to purchase a $325,000 house. He wants to finance the entire balance. He has received an APR of 3.5% for a 15-year mortgage. Over the course of the loan, how much interest will Brad pay? Round your answer to the nearest hundredth.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
Brad decided to purchase a $325,000 house. He wants to finance the entire balance. He has received an APR of 3.5% for a 15-year mortgage. Over the course of the loan, how much interest will Brad pay? Round your answer to the nearest hundredth.
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Step 1: Introduction
For given principal amount, rate of interest, and 15 years mortgage we have to find amount of interest brad will pay.
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