Richard Miyashiro purchased a condominium and obtained a 30-year loan of $190,000 at an annual interest...

Richard Miyashiro purchased a condominium and obtained a 30-year loan of $190,000 at an annual interest rate of 8.45%. (Round your answers to the nearest cent.)

(a) What is the mortgage payment?
(b) What is the total of the payments over the life of the loan?
(c) Find the amount of interest paid on the mortgage loan over the 30 years.

Expert Solution

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

As nothing was mentioned excel is used. PMT is rounded to 2 decimals for further calculations

jeff jeffy answered 9 months ago

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