Register
Dic Hercher bought a home in Homewood, Illinois, for $230,000. He put down 20% and obtained a mortgage for 25 years at 8%. What is the total interest cost of the loan? A. $242,411.00 B. $184,000.00 C.
202k views
4 votes
Dic Hercher bought a home in Homewood, Illinois, for $230,000. He put down 20% and obtained a mortgage for 25 years at 8%. What is the total interest cost of the loan?

A. $242,411.00
B. $184,000.00
C. $327,372.80
D. $242,144.00

User Sedovav
by
8.8k points

2 Answers

3 votes
The answer is D

the correct answer is really $242,042.55
User Eitan Peer
by
8.7k points
6 votes

Answer: Correct

D. $242,144.00

Step-by-step explanation:

User IKushal
by
8.2k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

What can turn igneous rock into sediment?
What is meant by data mining ?
You sell popcorn during your schools football games. Knowing that the people usually buy more when the price is lower, how would you price your popcorn after halftime?
The government has decided that the free market price of cheese is too low. Farmers complain that the price floor has reduced their total revenue.Is this possible? Explain
Identify the advantages and disadvantages of a command economy.
Link Copied!