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*show work Solve the problem In order to purchase a home, a family borrows $45,000 at an annual interest rate of 13%, to be paid back over a 30 year period in equal monthly payments. What is their monthly
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16 votes
16 votes
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Solve the problem
In order to purchase a home, a family borrows $45,000 at an annual interest rate of 13%, to be paid back over a
30 year period in equal monthly payments. What is their monthly payment?

User RamenChef
by
2.9k points

1 Answer

24 votes
24 votes

Answer:

I think 1,500 a month or 1,487

User Tom Fuller
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