Wilson took out a 30-year loan for $135,000 at an apr of 6.5%, compounded
monthly. approximately what would be the total cost of his loan if he paid it
off 6 years early?

$608170.12

Step-by-step explanation:

Wilson took out a 30-year loan for $135,000 at an APR of 6.5%, compounded  monthly.

Now, if he repays the loan 6 years early then the interest of the loan will be calculated for (30 - 6) = 24 years.

Now, the monthly interest rate is .

Again, within the period of 24 years, the loan will be compounded (24 × 12) = 288 times.

Therefore, using the formula of compound interest the approximate amount of total cost of his loan will be  

=

= $608170.12 (Answer)

idk what the answer is but for the points

step-by-step explanation:

the first one and the second one that's the answer