The answer should be c. 13
Answer:
$809.32
Step-by-step explanation:
The loan amount is 80% of $150,000, or $120,000. The monthly payment of principal and interest is $586.82.
The total annual expense for taxes and insurance is $1920 +750 = $2670, so the monthly expense is $2670/12 = $222.50.
Then the total of payments for mortgage and escrow will be ...
$586.82 +222.50 = $809.32
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The monthly P&I payment is given by ...
A = P(i/12)/(1 -(1 +i/12)^(-12t)) . . . . . where i is the annual interest rate, t is the number of years, and P is the amount financed.
A = $120,000(0.042/12)/(1 -(1 +0.042/12)^(-12·30)) ≈ $586.82
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A spreadsheet or financial calculator can be useful for calculating payments, though the formula isn't difficult to use.
Can you answer the question in blue please
The answer is the third option.
m = 7.5h
The h value multiplied by 7.5 will give you the m value.