How much interest will the borrower pay over the life of, Finance Basics

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How much interest will the borrower pay over the life of

A homebuyer bought a house for $245,000. The buyer paid 20% down but decided to finance closing costs of 3% of the mortgage amount. If the borrower took out a 30-year fixed-rate mortgage at a 5% annual interest rate, how much interest will the borrower pay over the life of the mortgage?

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Finance Basics: How much interest will the borrower pay over the life of

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Finance Basics: How much interest will the borrower pay over the life of

Reference No:- TGS0622928

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: How much interest will the borrower pay over the life of

Reference No:- TGS0622928

Recent Questions Asked Finance Basics

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