Question

You can afford 1,100 per month monthly mortgage. You've found a 30 year loan at 7% interest.
How much total money will you pay the loan company?
How much of that money is interest?

Real answers only please

Answer 1

Answer:

These days — with conventional mortgage rates running about 4% — a $1,000 monthly Principle & Interest (P&I) payment gets you a 30-year loan of about $210,000. Assuming a 10% downpayment, that's a $235,000 home

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