Topic: Business And Consumer Loans (Mortgage) A building is sold for $100000 and the bank requires 20% down payment. If the effective rate of interest of the mortgage is 2% and is to be paid for 10...

Topic: Business And Consumer Loans (Mortgage)


A building is sold for $100000 and the bank requires 20% down payment. If the effective rate of interest of the mortgage is 2% and is to be paid for 10 years, how much is the total interest of the mortgage?