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$230,000 mortgage has a stated annual rate of 4.5% on a 30 year loan. What was the total you paid for the house after 30 years?

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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A $230,000 mortgage has a stated annual rate of 4.5% on a 30 year loan. What was the total you paid for the house after 30 years?

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