The Lagan family bought a $150,000 home in 2002. They obtained a mortgage loan for 30 years. The monthly payments, not including property taxes and insurance, are $895.00. Assuming these monthly payments do not change, how much interest will be paid on the house during the 30 years?
(Monthly Payment)(12 months per year)(30 years)
(895)(12)(30) = $322,200 total amount paid (principal and interest)