Answer:
Option A,$ 1,832.91 is correct
Step-by-step explanation:
The monthly payment can be computed using the below pmt formula i excel shown below:
=pmt(rate,nper,-pv,fv)
rate is the monthly rate on the mortgage which is 17.5%/12=0.014583333
nper is the number of months of payment i.e 30*12=360
pv is the amount of the loan which is $125,000
fv is the total amount of repayment which is unknown
=pmt(0.014583333
,360,-125000,0)=$ 1,832.91
The correct option is A,$ 1,832.91 which is the amount of money they need to pay back on the mortgage for 360 months
Answer: n = 63
Step-by-step explanation:
n ÷ 21 = 3
Do the opposite to find n!
3 × 21 = 63
So, to check our answer
63 ÷ 21 = 3
n = 3
:))
Answer:
the answer is a decimal rounded to 6.02
