Question 5 • 2027 Ignite Financial Literacy-Personal Finance - EL3403
There are 12 monthly payments each year for 30 years, so the total paid is $895 × 12 × 30 = $322,200. That total includes both the $150,000 principal and the interest. Subtracting the principal gives $322,200 − $150,000 = $172,200 in interest, so the correct choice is $172,200 of interest.
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