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  • 3 years ago

@andrewhaney asked me this: Some friends tell you that they paid $34,616 down on a new house and are to pay $818 per month for 30 years. If interest is 4.5% compounded monthly, what was the selling price of the house? (Do not round until the final answer. Then, round to the nearest cent.)

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  1. galanh
    • 3 years ago
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    I am attaching a table which shows that the original price of the house is around 52793.775$ That these people are paying in total to the bank 360x818+34616=329096$ I wouldn’t buy it! Try to add one cent to the selling price and see how things change.

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