Question

Maddie and Logan Jackson obtained a 250,000 mortgage loan at an annual interest rate

of 6%. The loan period is for 25 years and the Jacksons will pay it in equal monthly
payments that include interest.
What is the:
A. Monthly payment
B. Total amount paid for house
C. Total interest charged

Answer 1

a.2083.33(r)

b. 625,000

c. 375,000

Explanation:

6 percent of 250,00 add those together and divide by 25 x 12 to get A