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3 years ago

11

Asia purchased a house using a fixed rate mortgage. The annual interest rate is 4.9% compounded monthly for 25 years. The mortga

ge amount is $165,000. What is the monthly payment on the mortgage? (show work)
A= $1,079.83
B= $576.95
C= $584.49
D= $954.98

1 answer:

Margaret [11]3 years ago

6 0

PUT=165,000÷(((1−(1+0.049÷12)^(−12
×25))÷(0.049÷12)))=954.98

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