Question

Riley takes out a 30-year mortgage for $200,000 with a 3.48% APR and with a monthly...

Riley takes out a 30-year mortgage for $200,000 with a 3.48% APR and with a monthly payment of $895.86.

After 10 years, how much has Riley paid in total?

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Answer #1

Ans $ 107503.20

Toal amount Riley paid in 10 years = Monthy payment * No of periods

                                                    = $ 895.86 * 120

                                                     = $ 107503.20

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