Question

You are buying a house and you are financing the purchase with a mortgage of $130,000. The mortgage has a 30 year term and requires monthly payments. The mortgage charges an interest rate of 0.3% every month. What is the total interest payment over the life of the mortgage?

Answer 1

130,000 -:- by 30 x 0.3 x 12 = 15,600.

Explanation:

(I hope its right, Im not good at math)