Mathematics, 17.06.2020 00:57, hannah1699

Lucy and Ricky Ricardo are buying a $200,000 house and putting 10% down. The bank is offering a 30-year loan at 4.5% compounded monthly.

a) What is the loan amount?

b) What will the monthly payment be?

c) What is the (approximate) total amount of interest paid during the
term of the loan?

Answers: 2

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Lucy and Ricky Ricardo are buying a $200,000 house and putting 10% down. The bank is offering a 30-year loan at 4.5% compounded monthly. a) What is the loan amount? b) What will the monthly payment be? c) What is the (approximate) total amount of interest paid during the term of the loan?

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Lucy and Ricky Ricardo are buying a $200,000 house and putting 10% down. The bank is offering a 30-year loan at 4.5% compounded monthly.

a) What is the loan amount?

b) What will the monthly payment be?

c) What is the (approximate) total amount of interest paid during the
term of the loan?