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You're comparing different $100,000 Mortgage plans for your house and would like to know how much interest you will pay in total for each one. To keep things simple, you will pay off the same amount of the principle loan annually, and pay a fixed interest rate on the remaining loan. For each plan, you will be given the fixed interest rate and the number of years of the mortgage. Can you print the total interest you will pay?
For example, given a 5% interest rate and a 10-year mortgage, you will pay $5,000 in interest the first year and $10,000 to pay off the principle every year. Below is the interest you will pay each year: