Respuesta :

Answer:

$453,086.82

The interest payments are:

$273,086.82

Here's how I found this in the easiest way possible.

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mhanifa

Answer:

  • $204338.00

Step-by-step explanation:

The monthly payments amount:

  • $1021.69

Number of payments:

  • 30*12 = 360

Total payment amount:

  • 360*1021.69 = 367808.40

The amount of mortgage x, considering the APR:

  • 367808.40 = x*30*7.5/100
  • 367808.40 = 2.25x
  • x = 367808.40 / 2.25
  • x = 163470.40

Amount of down payment:

  • 180000 - 163470.40 = 16529.60

The cost of the mortgage:

  • 367808.40 - 163470.40 = 204338.00

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