![\displaystyle PMT = \frac{P \left(\displaystyle \frac{r}{n}\right)}{\left[ 1 - \left( 1 + \displaystyle \frac{r}{n}\right)^{-nt} \right]}](/tpl/images/0231/1219/cc11d.png)
![\displaystyle PMT = \frac{200000 \left(\displaystyle \frac{0.039}{12}\right)}{\left[ 1 - \left( 1 + \displaystyle \frac{0.039}{12}\right)^{-12(30)} \right]}](/tpl/images/0231/1219/94a01.png)
calculate the total interest paid on a 30-year, 3.9% fixed-rate $200,000 mortgage loan.
rememb...
Mathematics, 14.09.2019 08:30 glocurlsprinces
calculate the total interest paid on a 30-year, 3.9% fixed-rate $200,000 mortgage loan.
remember that number of compounding periods in a year n = number of payments expected to be made in a year. if you make monthly mortgage payments, then interest on the loan is compounded monthly.
give answer in dollars rounded to the nearest cent. do not enter "$" sign in answer.
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