Claudia and Ivan bought their daughter a small home as a wed…
Claudia and Ivan bought their daughter a small home as a wedding present. The price of the home was $130,000, and they took out a $100,000 15-year mortgage with an interest rate of 3.13% on the home. If they take the full 15-year term to pay off the loan, how much total interest will they end up paying on the loan?