Asked • 05/09/20

You can afford a $1250 per month mortgage payment. You've found a 30 year loan at 6% annual interest compounded monthly.

a) How big of a loan can you afford?



b) How much total money will you pay the loan company?




c) How much of that money is interest?

1 Expert Answer

By:

Lenny D.

tutor
The remaining parts of the answer flow from my 3 previous answers
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05/10/20

Lenny D.

tutor
I see I made a typo I had pmt=1200 it should be 1250. plug that in and you will be fine
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05/10/20

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