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anonymous
 5 years ago
Suppose you purchase a home and obtain a 10year loan of $170,000 at an annual interest rate of 5.0% . Find the amount of interest that will be paid on the loan over the 10 years.
anonymous
 5 years ago
Suppose you purchase a home and obtain a 10year loan of $170,000 at an annual interest rate of 5.0% . Find the amount of interest that will be paid on the loan over the 10 years.

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dumbcow
 5 years ago
Best ResponseYou've already chosen the best response.0can you use a finance calculator?

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0assume compounded annually 170(1.05)^10

dumbcow
 5 years ago
Best ResponseYou've already chosen the best response.0oh ok, i was assuming monthly payments

dumbcow
 5 years ago
Best ResponseYou've already chosen the best response.0with monthly payments you end up paying 46,373.20 in interest
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