Jim takes out a mortgage for 30 years at an interest rate of 2.49% and his monthly repayments are $986.50. What is the principal loan amount? Round your answer to the nearest ten thousand dollars. Do NOT round until you have calculated the final answer.

Ricky takes out a $31,800 student loan to pay his expenses while he is in college. after graduation, he will begin making payments of $190.66 per month for the next 30 years to pay off the loan. how much more will ricky end up paying for the loan than the original value of $31,800? ricky will end up paying $ more than he borrowed to pay off the loan.