Question

In order to purchase a home, a family borrows $159,000 at 6.5% for 30 years. Use the table to find their monthly payment. Round the answer to the nearest cent.

a.
$954.00
c.
$1,186.14
b.
$1,006.47
d.
$1,276.36

Answer 1

At the interest rate of 6.5 with a 30 year plan, it states 6.33.