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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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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?

User Nicolas Lefebvre
by
7.4k points

1 Answer

3 votes

Answer:

I= PRT ÷100

Explanation:

I = 340000×30×3 ÷100

User Daniel Saad
by
8.8k points
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