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Sydney and Jacques are taking out a $175,000 mortgage to buy a house. The interest rate on the loan is 3.9% for 30 years. What will be their finance charge? A. $825.42 B. $122,150.97 C. $204,750.00 D. $81,900.00

Sydney and Jacques are taking out a $175,000 mortgage to buy a house. The interest rate on the loan is 3.9% for 30 years. What will be their finance charge? A. $825.42 B. $122,150.97 C. $204,750.00 D. $81,900.00

Elementary Algebra
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.43TI: Sean’s new car loan statement said he would pay $4,866.25 in interest from an interest rate of 8.5%...
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35. Sydney and Jacques are taking out a $175,000 mortgage to buy a house.
The interest rate on the loan is 3.9% for 30 years. What will be their finance
charge?
A. $825.42
B. $122,150.97
C. $204,750.00
D. $81,900.00

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