What would be the sum of all the payments made (i.e., total $s paid over the 30 years, ignoring time value) on the following house mortgage? Loan amount is $204,000 with an interest rate of 6.2% per annum, term of 30 years, and monthly payments. (Round to nearest penny and enter, for example, as 123456.78)

What would be the sum of all the payments made (i.e., total $s paid over the 30 years, ignoring time value) on the following house mortgage? Loan amount is $204,000 with an interest rate of 6.2% per annum, term of 30 years, and monthly payments. (Round to nearest penny and enter, for example, as 123456.78)

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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