The Jones family plans to borrow $22,000 for 15 years. If the interest rate is 4.25%, how much will the family pay in interest ?

Question

asked Dec 25, 2021 154k views

2 Answers

Wnbates · Answer 1 · 2021-12-26T21:23:31+0000

Answer:

344025

Explanation:

20,000 x decimal multiplier

decimal multiplier = 1.0425

20,000 x 1.0425 = 20850

20850 x 15 = 344025