Financial Algebra - Fixed Rate Help!

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?

$2,083

$3,466

$2,500

$2,888

Question

Financial Algebra - Fixed Rate Help!

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?

 $2,083

 $3,466

 $2,500

 $2,888

dbzfan836 · Answer

Ok so 15 years im months? show equation as well

anonymous · Answer

I'm not sure which formula I am supposed to use and yes, I think it's supposed to be in months

dbzfan836 · Answer

That's ok
519,827 / 15 / 12 = What?
Try to answer it.

anonymous · Answer

Okay hold on (:

anonymous · Answer

2.8879277777777778

dbzfan836 · Answer

the answer is 2887.92778

dbzfan836 · Answer

The answer is D
:P Hope I helped

anonymous · Answer

Oh okay! lol Thank you so much!

dbzfan836 · Answer

Gtg help others...
:P