# Paul lands a home mortgage of $58,200 at a 7.40% interest rate. He plans to pay this after 3 years . What will the total principle be?

## Whats the answer

## To calculate the total principal for Paul's home mortgage, we need to identify the initial loan amount. In this case, the initial loan amount is $58,200. The interest rate is not taken into consideration when calculating the total principal.

Therefore, the total principal for Paul's home mortgage will be $58,200.

## To find the total principle, we need to understand what principle refers to in the context of a home mortgage. The principle represents the initial amount borrowed from the lender, which in this case is $58,200.

Therefore, the total principle will be $58,200.

## total principle? 58200.

Interest adds to that.