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anonymous

  • one year ago

can someone help me with this problem please? Danielle bought a house for 215,000. She financed 189,375 of the purchase price with a 15-year, fixed-rate mortgage with a 6.15% interest rate. What is the total cost of the principal and interest after 15 years? a. 335,317.05 b: 290,418.20 c: 329,716.80 d: 295,351.95

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  1. amistre64
    • one year ago
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    what is our monthly payment?

  2. anonymous
    • one year ago
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    @amistre64 how do i figure that out?

  3. amistre64
    • one year ago
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    you find your formula for the monthly payment, and then realize that when you purchase a loan, you are paying for the time it would have taken you to save it up to start with ... you are paying for the interest. total cost = total payments total payments = loan amount + interest subtract the loan amount from both sides and what you have is interest ...

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