jen purchased a condo in naples florida for 699000 she put 2

jen purchased a condo in naples, florida, for $699,000. she put 20% down and financed the rest at 5% for 35 year. what are jen\'s total finance charges?

downpayment =$ 699000*0.2=$139800

amount to be financed =$699000*0.8=$559200

using fourmula we have ,

$559200=p(1 - (1+0.05)^-35)/0.05 p=33887.5

for 35 years=35*33887.5=$1186063.2

$1186063.2-$559200=$626,863.20(answer)

$jen purchased a condo in naples, florida, for $699,000. she put 20% down and financed the rest at 5% for 35 year. what are jen\'s total finance charges?Solution$

jen purchased a condo in naples florida for 699000 she put 2

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