This is the question. I have no idea how to solve it and I am now in panic mode. I hope someone can help. How do I solve this word problem. What are the steps I need to know to correctly solve it. Please help!
"A bank makes a home mortgage loan of $180,000 at 7.25% amortized in equal monthly payments over 30 years. What is the total amount paid in interest when the mortgage is paid off."