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John buys a house for 70000 and makes a down payment of 15000. The mortgage payment is 11.01 per thousand of the loan amount. What is his monthly payments.

John buys a house for 70000 and makes a down payment of 15000. The mortgage payment is 11.01 per thousand of the loan amount. What is his monthly payments.
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John buys a house for 70000 and makes a down payment of 15000. The mortgage payment is 11.01 per thousand of the loan amount. What is his monthly payments.

User Ewe Tek Min
by
8.0k points

1 Answer

1 vote
70,000−15,000
=55,000
number of thousands
55,000÷1,000
=55
Monthly payment
55×11.01
=605.55
User Seon
by
8.5k points
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