Over the 15-year life of the mortgage,the total amount Bradley will pay for interest charges is:

Name: Over the 15-year life of the mortgage,the total amount Bradley will pay for interest charges is:
Brand: Quizplus
Rating: 4.9 (46 reviews)

Question

Quizplus · Accepted Answer

The total amount of interest charges is the difference between the total amount paid and the principal amount. The total amount paid is $592,000 and the principal amount is $232,000. Therefore, the total amount of interest charges is $592,000 - $232,000 = $360,000.

Over the 15-Year Life of the Mortgage,the Total Amount Bradley