You have contracted to buy a house for $430,000, paying $130,000 down and taking out a fully amortizing loan for the balance, at a 5.7% annual rate for 30 years. What will your monthly payment be if they make equal monthly installments over the next 30 years (to the nearest dollar)? $2,189 $1,741 O $2.322 O $1,277

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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You have contracted to buy a house for $430,000, paying $130,000 down and taking out a fully amortizing loan for the balance, at a 5.7% annual rate for 30
years. What will your monthly payment be if they make equal monthly installments over the next 30 years (to the nearest dollar)?
O$2,189
O$1,741
$2,322
O $1,277
Transcribed Image Text:You have contracted to buy a house for $430,000, paying $130,000 down and taking out a fully amortizing loan for the balance, at a 5.7% annual rate for 30 years. What will your monthly payment be if they make equal monthly installments over the next 30 years (to the nearest dollar)? O$2,189 O$1,741 $2,322 O $1,277
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