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joja [24]
3 years ago
6

Sanjeep wishes to take out a $250,000 mortgage. The yearly interest rate on the loan is 5% and the loan is for 25 years. Calcula

te the monthly repayments. Give your answer in dollars and cents. Do not include commas or the dollar sign in your answer.
Mathematics
1 answer:
aksik [14]3 years ago
8 0

Answer:

1041.66 a month

Step-by-step explanation:

250,000  x 0.05 = 12,500

12,500 a year

12,500 / 12 = 1041.66

1041.66 a month

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