1) I borrow a mortgage of £185,000 over 30 years at an interest rate of 4.1%. How much will I pay back overall?

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Guest Apr 6, 2015

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1) I borrow a mortgage of £185,000 over 30 years at an interest rate of 4.1%. How much will I pay back overall?

This is a present value of an ordinary anuity problem

i=0.041, PV=185000, n=30, C is your yearly repayment (you will pay back 30C)

Melody Apr 6, 2015

Melody · Answer 1 · 2015-04-06T02:20:44

1) I borrow a mortgage of £185,000 over 30 years at an interest rate of 4.1%. How much will I pay back overall?

This is a present value of an ordinary anuity problem

i=0.041, PV=185000, n=30, C is your yearly repayment (you will pay back 30C)