The Smith's took out a $340,000, fixed 30-year mortgage at a fixed APR of 3%. The monthly payment was $1722. How much interest will they have paid after 30 years?

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asked Aug 17, 2023 87.9k views

7 votes

The Smith's took out a $340,000, fixed 30-year

mortgage at a fixed APR of 3%. The monthly payment
was $1722.
How much interest will they have paid after 30 years?

Mathematics
high-school

Nicolas Lefebvre asked

by Nicolas Lefebvre

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1 Answer

3 votes

Answer:

I= PRT ÷100

Explanation:

I = 340000×30×3 ÷100

Daniel Saad answered Aug 22, 2023

by Daniel Saad

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