-years. For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at 7.25% interest. 16 17. Calculate the monthly payment (PI). 18. Based on making 360 payments of $613.96, what is the total...


I need the solution of question 20. Please show the work.


-years.<br>For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at<br>7.25% interest.<br>16<br>17. Calculate the monthly payment (PI).<br>18. Based on making 360 payments of $613.96, what is the total interest over<br>the 30 years?<br>19. Use your amortization registers to calculate (a) interest for the entire 30<br>years and (b) balance after 360 payments of $613.96.<br>20.) Compare the total interest of Problem 18 with the total interest of<br>Problem 19. If there is a difference, explain which answer is correct, and<br>why.<br>

Extracted text: -years. For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at 7.25% interest. 16 17. Calculate the monthly payment (PI). 18. Based on making 360 payments of $613.96, what is the total interest over the 30 years? 19. Use your amortization registers to calculate (a) interest for the entire 30 years and (b) balance after 360 payments of $613.96. 20.) Compare the total interest of Problem 18 with the total interest of Problem 19. If there is a difference, explain which answer is correct, and why.

Jun 05, 2022
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