Let's break down the information step by step to find the total interest paid over the life of the loan and the total cost including the purchase price of [tex]$170,000.
1. Identifying the Total Interest Paid:
From the provided detailed data:
- Interest paid in Month 1: $[/tex]5408
- Interest paid in Month 2: [tex]$1431
- Interest paid in Month 3: $[/tex]1489
- Interest paid in Month 4: [tex]$1183.59
- Interest paid in Month 5: $[/tex]1477
By summing these initial interest values:
[tex]\[
5408 + 1431 + 1489 + 1183.59 + 1477 = 10988.59
\][/tex]
However, we know there are inconsistencies and errors in the table data beyond these values. We are given that the total cumulative interest paid is actually [tex]$184,830.
2. Calculating the Remaining Interest Paid:
Using the cumulative total, we subtract the summed initial interest from the total:
\[
184,830 - 10,988.59 = 173,841.41
\]
3. Total Interest Paid:
The total interest Demarco and Tanya paid over the life of the loan is given as:
\[
\$[/tex]184,830
\]
4. Identifying the Total Cost Including the Purchase Price:
This is calculated by adding the purchase price of the home ([tex]$170,000) to the total interest paid:
\[
170,000 + 184,830 = \$[/tex]354,830
\]
Therefore,
- The total interest Demarco and Tanya will pay over the life of their loan is [tex]\(\boxed{184,830}\)[/tex] dollars.
- The total cost including the $170,000 purchase price is [tex]\(\boxed{354,830}\)[/tex] dollars.
