one last question

[lostwithmath]

The Steward family purchased a home for $80,000 with a $10,000 down payment. There monthly payments are 795.20 per month for twenty years. How much interest will they pay over the life of the loan?

 

[tkhunny]

You're kidding, right? maybe you're just over-thinking it.

80000 - 10000 = 70000 -- Total Principal Paid
795.20*12*20 = 190848 -- Total Paid (Principal + Interest)

I would consider subtraction after that.

 

[Denis]

betya that payment should be 795.29838~...any takers