MATH SOLVE

4 months ago

Q:
# PLEASE HELP ME!!!!!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

Accepted Solution

A:

$519,827/15yr=$34,655/yr

$34,655/12mo=$2887.9/mo

The closest amount for Sonora's monthly payment is $2,888.

$34,655/12mo=$2887.9/mo

The closest amount for Sonora's monthly payment is $2,888.