Anissa is considering buying her first home. The house she is interested in buying is priced at $139,000. Anissa qualifies for a

Question

3 years ago

15

30-year mortgage at 6.45%. What will be her monthly mortgage payment?

2 answers:

vazorg [7] · Answer 1 · 2022-02-27T17:18:23+03:00

vazorg [7]3 years ago

6 0

Answer:

A

Step-by-step explanation:

klio [65] · Answer 2 · 2022-02-27T19:13:10+03:00

klio [65]3 years ago

4 0

Answer:

The correct answer is option A.

Step-by-step explanation:

The EMI formula is ::

$\frac{p*r*(1+r)^{n} }{(1+r)^{n}-1 }$

Here,

p = 139000

r = $6.45/12/100=0.005375$

n = $30*12=360$

Now, putting these values in formula we get,

$\frac{139000*0.005375*(1+0.005375)^{360} }{(1+0.005375)^{360}-1 }$

$\frac{139000*0.005375*(1.005375)^{360} }{(1.005375)^{360}-1 }$

= $874.01

Therefore, option A is the answer.