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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. $242,4…

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. $242,4…
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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
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