Grace borrows $135,000 for a new house with an interest rate 3.5% for 30 years. how much will she pay for the house in total at the end of 30 years

asked Jan 19, 2022 91.3k views

22 votes

5.5k points

Please log in or register to add a comment.

3 votes

Answer:

378,917.15

Explanation:

Annual compound interest formula:

$AV=PV(1+i)^n\\\\AV=135000(1+.035)^(30)\\\\135000*2.8067937047=378917.15$

Matt Gaunt answered Jan 23, 2022

5.3k points

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

5.6m questions

7.3m answers