Using an online loan calculator, find the total cost of repaying a $75,000 mortgage loan with a 4.5% fixed annual interest rate compounded monthly and a 30-year loan term.

Question

a $136,805.03
b $61,805.03
c $75,000
d $380.01

Answer 1

Using an online loan calculator, the total cost of repaying a $75,000 mortgage loan with a 4.5% fixed annual interest rate compounded monthly and a 30-year loan term is option a) $136,805.03.