Angel Graham takes out a $150,000 mortgage. This is a 30-year at $725 per month. What is the total amount of interest that Angel will pay on this mortgage?

Question

dude · Answer

To find the total interest use the equation

$I=P(1+rt)$

P is the initial amount
r is the rate (as a decimal)
t is the time in years

Vocaloid · Answer

we are not given an interest rate here so for simplicity's sake convert 30 years to months, multiply by the monthly rate 725. this represents the total amount of $$$ she pays.

total amount - 150,000 = interest