Question

If the yang family chooses the 30-year mortgage how much will they be able to borrow

Answer 1

If 30 years mortage is choosen

A=810

i = 3.14% p.a. = 0.2617% per month

n=30years=360 months

Borrowing amount=p

P=A(p|A,i,n)

put the values

P=810(P|A,0.2617%,360)

p=810*232.984115

P=$188726.71