QuestionLaura and Martin obtain a 20 -year, $\$ 190,000$ conventional mortgage at $9.5 \%$ on a house selling for $\$ 230,000$. Their monthly \$1772.70. a) Determine the total amount they will pay for their house.

Studdy Solution
Perform the multiplication to find the total amount paid:
$\text{Total amount paid} = 1772.70 \times 240 = 425,448 \text{ dollars}$
The total amount Laura and Martin will pay for their house is:
$\boxed{425,448 \text{ dollars}}$