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PLEASE HELP ANYONE
Kurt is financing a $315,000 mortgage for 30 years at a fixed rate of 7.35%. What is the total cost of the principal and interest after 30 years?

$651,078.00

$676,305.00

$781,293.60

$788,489.94

Respuesta :

samuelonum1

Answer:

Step-by-step explanation:

Kurt is financing a $315,000 mortgage for 30 years at a fixed rate of 7.35%. What is the total cost of the principal and interest after 30 years?

Given data

P= $315,000

t= 30years

r= 7.35%

Let us apply the simple interest formula

A= P(1+rt)

substitute