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Grace borrows $135,000 for a new house with an interest rate 3.5% for 30 years. how much will she pay for the house in total at the end of 30 years ​

Grace borrows $135,000 for a new house with an interest rate 3.5% for 30 years. how much will she pay for the house in total at the end of 30 years ​
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22 votes
Grace borrows $135,000 for a new house with an interest rate 3.5% for 30 years. how much will she pay for the house in total at the end of 30 years

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asked
User Roubachof
by
8.8k points

1 Answer

3 votes

Answer:

378,917.15

Explanation:

Annual compound interest formula:


AV=PV(1+i)^n\\\\AV=135000(1+.035)^(30)\\\\135000*2.8067937047=378917.15

answered
User Matt Gaunt
by
8.1k points
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