Answer:
$1015.67
Step-by-step explanation:
The appropriate formula for the payment amount (A) for principal P and interest rate r over time period t years is ...
A = P·(r/12)/(1 -(1 +r/12)^(-12t))
Filling in the given numbers, you get ...
A = 176,900·(.0482/12)/(1 -(1 +0.0482/12)^-300) ≈ 1015.67
Violet's monthly payment for principal and interest is $1015.67.
