Suppose you are buying your first condo for 145000 and you, Ask an Expert

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Suppose you are buying your first condo for $145,000, and you will make a $15,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?

Answer

A. $741.57

B. $780.60

C. $821.69

D. $862.77

E. $905.91

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Statistics and Probability, Statistics

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