how would i solve this question??

Brandon has a 15-year fixed rate mortgage for $175,500 with monthly payments of $1,480.97. The annual interest rate is 6%. What is the total cost of the principal and interest for this loan rounded to the nearest dollar?

Question

how would i solve this question??

Brandon has a 15-year fixed rate mortgage for $175,500 with monthly payments of $1,480.97. The annual interest rate is 6%. What is the total cost of the principal and interest for this loan rounded to the nearest dollar?

tkhunny · Answer

Perhaps you are over-thinking it?  15*12*1480.97 = ??  Just add up the payments!

whpalmer4 · Answer

After adding, if the number of cents in the answer is 50 or larger, drop the cents and add 1 dollar, otherwise just drop the cents.