The Wong family bought a $190,000 home in 2001. They obtained a mortgage loan for 30 years. The monthly payment, not including property taxes and insurance, is $995. How much total principal and interest will they pay for the house after 30 years?
$168,200
$190,000
$358,200
$548,200

Respuesta :

Answer:

$358,200

Explanation:

its the answer on edge nuity

Based on the amount that the Wong family pays every month, the total amount of interest and principal that they will pay after 30 years is $358,200.

How much will the Wong family pay in total?

The monthly payment of $995 includes both the interest payment and the principal.

The total to be paid in 30 years is:

= Amount per month x Number of months in year x Number of years paid

= 995 x 12 x 30

= $358,200

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