Question

How much money will

be spent in interest
alone over the course of
the 4% 30-year
mortgage described in
the table?

Answer 1

the answer is 4,800 dollars

Explanation:

Interest is amount added for time. In this case, every dollar borrowed will require 1.04 back. This may not seem like much, but it leads to a lot. Multiplying 120,000 by .04, which is 4 % in decimal form, will give you 4,800 dollars.

Hope this helps!