Carly bought a house and managed to secure a home loan of 790 000

Carly bought a house and managed to secure a home loan for 790 000 with monthly payments of 9680.70 at a fixed interest rate of 13.75% per year, compounded monthly over a period of 20 years. If an average yearly inflation rate of 9.2% is expeected, then the real cost of the loan (the difference between the total value of the loan and the actual principal borrowed) equals 1) 87 126 2) 201 642 3) 270 749 4) 588 358 5) 1 060 749
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1 Answer

?????????? "had managed tu secure a home lone ???????????

yu meen yu BORRO MUNEE, or yu GET LONE ???????????

?????? for a period av twenty yeers"...maebee yu meen 20 yeers ?????

kost=20*12*9,680.70=240*9,680.7 ...=2,323,368$

flate rate at 9.2% with month kompound become 6.25251

reel kost=2,323,368/6.25251=371,589.65
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