Answer:
The correct answer is A. $729.98.
Step-by-step explanation:
Given that the purchase price for a house is $ 309,900, to determine what is the monthly payment if you put 20% down for a 30 year loan with a fixed rate of 6%, the following calculation must be performed:
100 - 20 = 80
(309,900 x 0.80) x 1.06 / (30x12) = X
247,920 x 1.06 / 360 = X
262,795.2 / 360 = X
729.98 = X
Therefore, the monthly payments will be $ 729.98.
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