Multiple Choice
You have borrowed $130,000 to buy a new motor home. Your loan is to be repaid over 15 years at 8% compounded monthly. Calculate the total amount of interest you will pay over the life of the loan.
A) $47,451
B) $93,677
C) $126,226
D) $299,090
Correct Answer:
Verified
Correct Answer:
Verified
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