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What total amount of interest would you pay on a 30-year $100,000 mortgage at an interest rate of 9%?

User Sasxa
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1 Answer

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Final answer:

The total amount of interest paid on the mortgage would be $270,000.

Step-by-step explanation:

To calculate the total amount of interest paid on a mortgage, you can use the formula: Interest = Principal * Rate * Time. In this case, the principal is $100,000, the rate is 9%, and the time is 30 years.

So, the interest = $100,000 * 9% * 30 years = $270,000.

Therefore, the total amount of interest paid on a 30-year $100,000 mortgage at an interest rate of 9% would be $270,000.

User Phillip Bock
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