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Please Help I need ot now!!!!!!​ Ms. Moore is purchasing a house and needs to finance a $150,000 mortgage from the bank with an annual percentage rate (APR) of 3.8% she is financing it over 30 years and making monthly payments. What is the total amount Ms. Moore will pay back to the bank> (to the nearest dollors)

Please Help I need ot now Ms Moore is purchasing a house and needs to finance a 150000 mortgage from the bank with an annual percentage rate APR of 38 she is fi class=

Respuesta :

$251,618

Step-by-step explanation:

Amount = $ 150,000

APR = 3.8 % = 3.8 / 100 = 0.0038

Rate per month = 0.003166

Monthly payment = 30 years = 360 months

Interest = P* r/n (1 + r/n) ∧ nt ÷ (1 + r/n) ∧ nt - 1

The total amount Ms Moore will pay back to the bank =

= $251,618

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