Jim takes out a mortgage for 30 years at an interest rate of 2.49% and his monthly repayments are $986.50. What is the principal

Question

2 years ago

13

loan amount? Round your answer to the nearest ten thousand dollars. Do NOT round until you have calculated the final answer.

1 answer:

trasher [3.6K] · Answer 1 · 2022-11-11T14:21:38+03:00

4 0

Answer:

250000

Step-by-step explanation:

P=986.50(1-(1+.0249/12)^-(12)(30) Then divide the answer you get by (.0249/12)