Shannon finances $189,000 with a 20/7 balloon mortgage at 6.25%. How much will she pay for principal and interest over the life of the loan?

Question

anonymous · Answer

@dmezzullo @jim_thompson5910  @LilliBelle

anonymous · Answer

Sorry hun I don't know I'm not great with math like this if you ever have any thing with decimals or factions or crap let me know!! Sorry I couldn't help hun

anonymous · Answer

thanks  its ok. im bad at math too

jim_thompson5910 · Answer

Use this calculator http://tcalc.timevalue.com/all-financial-calculators/mortgage-calculators/balloon-mortgage-calculator.aspx to get "Total interest $74,333.86" The principal of the loan is simply the amount borrowed (so it's $189,000)

jim_thompson5910 · Answer

The total interest is listed in the "Financial Details" section of the calculator report.

anonymous · Answer

still not the answer