Hazeline Allen’s mortgage loan amount is $87,750. She financed her house for 30 years with monthly payments of $725. At the end of 30 years, what will be the total amount of interest charged?

Question

anonymous · Answer

I need help!

anonymous · Answer

monthly payment is $725..1st find out yearly payment..kkk

perl · Answer

do you have a book online of financial maths

jamierox4ev3r · Answer

Steps: First, as @Probhat has said, find out the yearly payment.
Secondly, with that amount, multiply by the number of years that Allen has financed her house (which would be 30 years)
Third, take this total and subtract it with the mortgage loan amount (which is 87,7750).

If you do these steps right, you should get the correct solution. Let me know if you need anything else, and welcome to OpenStudy! Happy Studying $\Large\ddot\smile$

anonymous · Answer

thank you!!

jamierox4ev3r · Answer

No problem! Care to send a medal for teamwork? :)

jamierox4ev3r · Answer

If you don't know how, I can teach you

jamierox4ev3r · Answer

@am!rah2  Next to my postings, you should see a blue button that says "best response." Click on that button, and  I would get a medal. I can send you one too as well.

anonymous · Answer

ok

anonymous · Answer

aww thx

jamierox4ev3r · Answer

no problem! c: Every time someone answers a question of yours really well, give them a medal; they would really appreciate it #thumbsup

anonymous · Answer

yes you r like a master

jamierox4ev3r · Answer

that's really sweet of you!