Find the Payment Size and the Total Interest Paid Over

Multiple Choice

Find the payment size and the total interest paid over the life of the loan of $350,000 at 10% under the following condition. Payments are monthly, and the rate is 10%, compounded monthly for 25 years. Round your answers to the nearest cent. ​

A) Payment size is $3,335.60 and the total interest paid is $604,135.00.
B) Payment size is $3,052.53 and the total interest paid is $1,304,135.00.
C) Payment size is $3,335.60 and the total interest paid is $1,304,135.00.
D) Payment size is $3,180.45 and the total interest paid is $604,135.00.
E) Payment size is $3,052.53 and the total interest paid is $445,112.50.