Dustin takes out a $300,000 mortgage and is paying it off in monthly installments of $1,432 over the span of 30 years. Which statements are true? Select all that apply. Dustin will make 360 payments to pay off his mortgage.
Over 40% of the total payment Dustin pays will be interest.
Only 15% of the total payment Dustin will pay will be principal.
The total payment Dustin will make is $615,609.
Dustin’s APR is 6%.