Calculate the monthly payment for a mortgage of $180,000 with rate of 4% over a period of 15 years. Round to the nearest dollar. A) $1,621 B) $1,576 C) $1,166 D) $1,331 E) $1,438
Calculate the monthly payment for a mortgage of $180,000 with rate of 4% over a period of 15 years. Round to the nearest dollar. A) $1,621 B) $1,576 C) $1,166 D) $1,331 E) $1,438
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...
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Question 14 of 41
Calculate the monthly payment for a mortgage of $180,000 with
rate of 4% over a period of 15 years. Round to the nearest dollar.
A) $1,621
B) $1,576
C) $1,166
D) $1,331
E) $1,438
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Transcribed Image Text:T6 of 45
Multiple Choice
Question 14 of 41
Calculate the monthly payment for a mortgage of $180,000 with
rate of 4% over a period of 15 years. Round to the nearest dollar.
A) $1,621
B) $1,576
C) $1,166
D) $1,331
E) $1,438
Back
Skip
Submit
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