The house price is $307,574. How much interest was paid over the course of the 30-year mortgage?

To calculate the interest paid over the course of a 30-year mortgage, we need the following key pieces of information:

1. The loan amount (house price) = **$307,574**
2. The interest rate (annual percentage rate or APR) = **(not provided)**
3. The loan term = **30 years**
4. Payment frequency (usually monthly)

Assuming you're asking for the total interest paid with a typical fixed-rate mortgage, I'll provide a calculation using a sample interest rate. Let me know if you have a specific rate, or I'll assume a standard one, like 5%.

Would you like me to proceed with a 5% interest rate or would you like to specify one?



Discover how to calculate the total interest paid over a 30-year mortgage for a house priced at $307,574. This guide uses amortization formulas to break down the key concepts of interest calculation and offers a step-by-step explanation suitable for high school students and beyond.

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