Jane Smith has asked for a 30 year mortgage (repayable in monthly installments) to purchase a home in Oklahoma City,Oklahoma.The purchase price of the home is $150,000 of which $125,000 must be borrowed.If the APR on this loan is 8 percent,how much will Jane's total financing charges be?
A) $246,233
B) $205,194
C) $180,194
D) $165,097
E) None of the options is correct
Correct Answer:
Verified
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