Question

Bart has a 20-year adjustable rate mortgage that has a rate of 3.7% for the first 2 years. The amount of the mortgage is $249,000. What is the monthly payment during this initial period?

Answer 1

0.74

Answer 2

*0.074

Answer 3

3.7%*20

74/2

=?

Answer 4

37

Answer 5

exactly! so 37 is the amount paid each month

Answer 6

that isn't in my choices

Answer 7

O-O

Answer 8

ok hold on

Answer 9

what are ur choices?

Answer 10

$1,037.50

$1,273.42

$1,075.89

$1,469.82

Answer 11

hmm. ok hold on

Answer 12

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