crystalquick crystalquick

02-05-2017
Mathematics

contestada

Asia purchased a house using a fixed rate mortgage. The annual interest rate is 4.9% compounded monthly for 25 years. The mortgage amount is $165,000. What is the monthly payment on the mortgage? (show work)

A= $1,079.83
B= $576.95
C= $584.49
D= $954.98

Respuesta :

Aliwohaish12 Aliwohaish12

02-05-2017

PUT=165,000÷(((1−(1+0.049÷12)^(−12
×25))÷(0.049÷12)))=954.98

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