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24 June, 08:58

Kandy is financing a $335,000 mortgage for 30 years at a fixed rate of 7.45%. What is the total cost of the principal and interest after 30 years?

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  1. 24 June, 09:30
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    You are given a mortgage of $335,000 for 30 years at a fixed rate of 7.45%. To find the total cost of the principal and interest after 30 years, you need to use the compound interest formula F = P (1+i) ^n. The answer is $38264
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