Question check! Will fan and medal!!

A purchased a house using a fixed rate mortgage. The annual interest rate is 5.6% compoundded monthly for 30 years. The mortgage amount is $205,00. What is the monthly payment on the mortgage?

a) $601.33
b)$1,176.86
c) $1,189.00
d) $1,271.15

I picked c

Question

Question check! Will fan and medal!!

A purchased a house using a fixed rate mortgage. The annual interest rate is 5.6% compoundded monthly for 30 years. The mortgage amount is $205,00. What is the monthly payment on the mortgage? 

a) $601.33
b)$1,176.86
c) $1,189.00
d) $1,271.15

I picked c

anonymous · Answer

@jim_thompson5910 @dan815

perl · Answer

you can use a formula, or a table.