1. Ben and Jane have been approved for a $220,000 loan, 30-year mortgage with an APR of 5.82%. What will be the total amount interest paid over the 30 years? * 1
The total amount accrued, principal plus interest, with compound interest on a principal of $220,000.00 at a rate of 5.82% per year compounded 12 times per year over 30 years is $245,717.60.
