Asked • 06/28/21

Calculate the Interest on a Mortgage

33.Suppose you have just obtained a 30-year home mortgage in the amount of $292,000 at an APR of 5.75%. By finding the required monthly payment and also the monthly payment that you would need to make in order to pay off the loan in 20 years, determine the amount you would save in interest charges by paying off the loan in 20 years. (a) $83,052.00 (b) $120,392.40 (c) $121,431.60 (d) $124,578.00 34.

1 Expert Answer


Daniel M. answered • 07/05/21

New to Wyzant

Math and Accounting Tutor

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.


Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.