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OpenStudy (givingtree):
Please help! Interest theory + Adv. Alg. Question! Ringo obtains a 15-year 5.4% fixed rate mortgage for $505,500. The monthly payments are about $4,104. What is the total amount of interest for Ringo's mortgage?
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OpenStudy (givingtree):
@zepdrix
OpenStudy (givingtree):
@Directrix interest theory help?
OpenStudy (dumbcow):
Total interest = Sum of payments - Loan amount \[4104(180) - 505,500\]
OpenStudy (givingtree):
$233,220?
OpenStudy (givingtree):
@dumbcow ?
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