Learning Goal: I’m working on a mathematics discussion question and need a sample draft to help me learn.
1 initial response and 1 response to: I have found a house that I would like to purchase in my little town in Northwest Indiana.
- Total cost $428,000
- 20% down payment – $85,600
- 7.12% fixed interest
- Monthly payment $2,305.66
- Total interest paid $830,037.60 $342,400 = $487,637.60
This is very eye opening to see how much actual interest is being paid over the course of 30 years.