@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.)

Question

@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.)

anonymous · Answer

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.