Drill Problem 18-5 [LU 18-1 (3)) Selling price of hone $95.000 Down payment $ 6,000 Principal (loan) 1.89,000 Total cost of interest Rate of interest Years 30 What is the total cost of interest? (Do not round intermediate calculations. Round your final answer to the nearest cent)
Drill Problem 18-5 [LU 18-1 (3)) Selling price of hone $95.000 Down payment $ 6,000 Principal (loan) 1.89,000 Total cost of interest Rate of interest Years 30 What is the total cost of interest? (Do not round intermediate calculations. Round your final answer to the nearest cent)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![Drill Problem 18-5 [LU 18-1 (3)]
Selling price
of hone
$ 95,000
Down
payment
$6,000
Principal
(loan)
1.89,000
Total cost of interest
Rate of
interest
7.5%
Years
30
What is the total cost of interest? (Do not round intermediate calculations. Round your final answer to the nearest cent.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb35107a1-8e00-46ca-89fb-a73546b0f67c%2F83ef21aa-6021-447d-9ea6-2989ba606557%2Fnsr0b7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Drill Problem 18-5 [LU 18-1 (3)]
Selling price
of hone
$ 95,000
Down
payment
$6,000
Principal
(loan)
1.89,000
Total cost of interest
Rate of
interest
7.5%
Years
30
What is the total cost of interest? (Do not round intermediate calculations. Round your final answer to the nearest cent.)
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