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Cost of House $215,750 with a 15 year loan at 2.5%.Find the interest.

User ProtoTyPus
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Final answer:

The interest on a $215,750 house loan with a 15-year term and an interest rate of 2.5% is $80,812.50.

Step-by-step explanation:

The interest on a $215,750 house loan with a 15-year term and an interest rate of 2.5% can be calculated using the formula: Interest = Principal x Rate x Time. In this case, the principal is $215,750, the rate is 2.5% (or 0.025), and the time is 15 years. Plugging these values into the formula, we get: Interest = $215,750 x 0.025 x 15 = $80,812.50.

User Hangc
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