Home Project: Section V
Use your linear equations in part IV.
After the loan is paid off, how much will you have paid
to the bank for your home? Show your work.
How much of that total payment will be paid in interest?
Show your work.
For the 30-year fixed mortgage
For the 30-year fixed mortgage (with penalty) (5 pts):
420,777.50 US Dollars
Interest paid: 394,251.70