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Bob and Alice have a mortgage for $73,280. If the mortgage is set at 7 percent for 30 years, how much is their monthly payment if their rate is 6.75 per 1,000? A) $494.64 B) $91,647 C) $243.64 D) $473.
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Bob and Alice have a mortgage for $73,280. If the mortgage is set at 7 percent for 30 years, how much is their monthly payment if their rate is 6.75 per 1,000?

A) $494.64
B) $91,647
C) $243.64
D) $473.34

User Thndrkiss
by
7.8k points

1 Answer

1 vote
Hi there

First find the number of thousands on 73280
73,280÷1,000
=73.28
now find the monthly payment (6.75 per thousand) so
73.28×6.75
=494.64.....answer

Hope it helps
User KeizerBridge
by
8.4k points
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