The slovacek family wants to buy a $200,000 house. With excellent credit, their monthly payments on a loan will be $843 per month for 30 years. With a fair credit rating, monthly payments will be $954 per month. How much will that $200,000 house cost over 30-year period if they have excellent credit?

Question

Mathematics

Melissa Browning

2 November, 06:45

The slovacek family wants to buy a $200,000 house. With excellent credit, their monthly payments on a loan will be $843 per month for 30 years. With a fair credit rating, monthly payments will be $954 per month. How much will that $200,000 house cost over 30-year period if they have excellent credit?

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Answers (1)

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Jay English · Answer 1

Answer:$303,480

Step-by-step explanation: with excellent credit which is $843 per month for 30 years. So first I did 12 x 30 = 360 since there are 360 months in 30 years. And then 843 x 360 = $303,480. So $303,480 is your answer