Four years ago,you borrowed $250,000 for 20 years at 8 percent.Payments are made monthly.How much interest have you paid thus far?

Question

Quizplus · Accepted Answer

11ea6d0e_c3bf_86ad_b3c7_0b6c67c4e81e_TB1223_00 Calculator Solution :
 11ea6d0e_c3bf_86ae_b3c7_95b0ddc48efb_TB1223_00 11ea6d0e_c3bf_adbf_b3c7_f5517d4ff6e4_TB1223_00 Interest paid to date = ($2,091.10 × 4 × 12) - ($250,000 - $226,083) = $76,456

Four Years Ago,you Borrowed $250,000 for 20 Years at 8