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## A loan for a house has a 5% annual interest rate. If you borrow $600,000 for 30 years, then what is the balance of the loan including the si

Question

A loan for a house has a 5% annual interest rate. If you borrow $600,000 for 30 years, then what is the balance of the loan including the simple interest?

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Mathematics
5 months
2021-08-29T12:16:25+00:00
2021-08-29T12:16:25+00:00 1 Answers
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## Answers ( )

Answer:the balance is how much you still owe on the loan.

the initial balance would be the $600,000. that would change monthly