strawberrymochi4447 strawberrymochi4447

29-12-2018
Mathematics

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An individual borrowed ?$89000 at an APR of 6?%, which will be paid off with monthly payments of ?$638 for 20 years. The number of payments per year

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tramserran tramserran

29-12-2018

Answer: Total payments = $153,120

Interest paid = $64,120

Step-by-step explanation:

$638 x 12 months x 20 years = $152,120

Paid: $152,120

Borrowed: $89,000

Difference: $64,120

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