Susan Carver will purchase a home for $\$ 290,000$. She will use a down payment of $21 \%$ and finance the remaining portion at $9.6 \%$, compounded monthly for 15 years. Complete parts (a) throygh (c) below.
payments for 8 years?
The amount remaining on the loan will be $\$ 146,759.82$.
(Round to the nearest cent as needed.)
(c) How much interest will be paid on the total amount of the loan over the course of 15 years?
The amount of interest that will be paid is $\$ \square$. (Round to the nearest cent as needed.)

Step 1 ：Susan Carver will purchase a home for \$290,000. She will use a down payment of 21\% and finance the remaining portion at 9.6\%, compounded monthly for 15 years.

Step 2 ：First, we need to calculate the amount that Susan will finance. This is the total cost of the home minus the down payment. The down payment is 21\% of the total cost of the home, which is \$290,000 * 0.21 = \$60,900. So, the financed amount is \$290,000 - \$60,900 = \$229,100.

Step 3 ：Next, we need to calculate the total amount of interest paid over the course of 15 years. This can be calculated using the formula for compound interest: A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, including interest, P is the principal amount (the initial amount of money), r is the annual interest rate (in decimal), n is the number of times that interest is compounded per year, and t is the time the money is invested for in years.

Step 4 ：In this case, P is the amount that Susan will finance, which is \$229,100, r is 9.6\%, which is 0.096, n is 12 (since interest is compounded monthly), and t is 15. So, A = \$229,100 * (1 + 0.096/12)^(12*15) = \$961,437.08.

Step 5 ：The total amount of interest paid is then A - P, which is \$961,437.08 - \$229,100 = \$732,337.08.

Step 6 ：Final Answer: The amount of interest that will be paid is \(\boxed{\$732,337.08}\).