I think it’s 1.8 because if you divide it and you get your answer if you were saying what goes in it
Using a tree diagram you can see that the probability is 1/(7^7) or 1/823543. This is about 0.0001%
Okay so first I am taking it that you have to subtract 24k from the 104k which brings it to 80,000.
I am also taking it that the 8.5% is suppose to be in decimal form which makes it .085%
Take the 80,000 and use the monthly payment formula, which is really easy to use.
Monthly payment should be 644.18
