Calculate the Total Payments on a $200,000 Mortgage If Payment

question 21

Multiple Choice

Calculate the total payments on a $200,000 mortgage if payment is made at the end of each month, and the annual interest rate is 4.25 percent for 15 years.

• A) $287,456.36
• B) $270,820.80
• C) $2,469,985.20
• D) $199,980

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