Real Estate Math
An Iowa homeowner pays $1,650/month on a 30-year mortgage. Over the full loan term, what is the total amount paid?
A$594,000✓ Correct
B$19,800
C$297,000
D$495,000
Explanation
Total paid = $1,650/month x 12 months x 30 years = $1,650 x 360 = $594,000. Using the values given ($1,650), apply the appropriate formula..
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