Question

Based on a table provided in your reading material determine the monthly payment for a $100,000 loan if the interest rate is 6% and the term is 15 years

Answer 1

Answer: The monthly payment will be $843.86.

To find this answer, just use your table in the reading material. Find the payment that matches a $100,000 loan for 15 years at a rate of 6%.

If you don't have the table anymore, there are numerous online calculators that will give the same amount.