2 years ago

3. How much will the monthly payment for the Riaz family's home loan of $120,000

Mathematics

1 answer:

tia_tia [17]2 years ago

6 0

From the interest computed, the monthly payment that will be made is $7500.

<h3>How to calculate the interest</h3>

The formula to calculate the interest will be:

= PRT/100

= (120000 × 15 × 5)/100

= 90000

Therefore, the monthly payment will be:

= $90000/12

= $7500

In conclusion, the correct option is $7500.

Learn more about interest on:

brainly.com/question/2294792

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