Question

1. Brandon has a 15-year fixed rate mortgage for $175,500 with monthly payments of $1,480.97. The annual interest rate is 6%. What is the total cost of the principal and interest for this loan rounded to the nearest dollar? (1 point) $157,950 $266,575 $186,030 $444,291 2. Sonora has a 4.6% fixed rate 15-year mortgage in the amount of $375,000. The total cost of principal and interest is about $519,827. Which of the following is closest to Sonora’s monthly payment? (1 point) $2,083 $3,466 $2,500 $2,888 3. Ringo obtains a 15-year 5.4% fixed rate mortgage for $505,500. The monthly payment