Misty is buying a house for $385,000. She is financing $345,500 and obtained a 15-year, fixed-rate mortgage with a 4.875% intere
st rate. How much are her monthly payments?
$3,019.55
$2,709.75
$36,779.05
$33,005.61
And please explain why!
1 answer:
345500=pmt[(1-(1+0.04875/12)^(-12×15))/(0.04875/12)]
Solve for pmt
Pmt=2709.75
So the answer is B
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