Register
Tyler's net income is approximately $40,000 annually. He has borrowed $400,000 from the bank to buy a house (mortgage) and must pay 3% interest each year. What is the cost of borrowing the money?*
84.0k views
7 votes
Tyler's net income is approximately $40,000 annually. He has borrowed

$400,000 from the bank to buy a house (mortgage) and must pay 3% interest
each year. What is the cost of borrowing the money?*

User Syed Shibli
by
8.8k points

1 Answer

5 votes

Answer:

$400000 is the correct answer

User Nodak
by
8.6k 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

Who was Adam Smith ? Anybody?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
What is the best way to describe a stock market?
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?
Link Copied!