Rebecca Cruz just bought her first house. Her monthly housing expenses include a $795.00 mortgage payment, $37.75 for insurance
2 answers:
You might be interested in
Answer:
The right response is Option c ($185,870,742).
Step-by-step explanation:
Given:
n = 30
r = 5.4%
or,
= 0.054
Periodic payment will be:
($)
Now,
The present value will be:
=
By substituting the values, we get
=
=
= ($)