Final answer:
Marie's annuity payment for her 30-year mortgage that compounds monthly will have an nt value of 360, as she needs to multiply the 30 years by 12 months per year.
Step-by-step explanation:
The nt value that Marie will use in her formula for calculating an annuity payment on her mortgage is the total number of compounding periods over the life of the loan. In this scenario, the mortgage compounds monthly for 30 years. To calculate the annuity payment for a mortgage, Marie needs to use the present value (PV) formula, which requires the number of periods (n). In this case, the mortgage compounds monthly for 30 years, so the number of periods is 30 * 12 = 360Thus, to calculate the nt value, we multiply the number of years by the number of times it compounds annually (12 months):
nt = years × compounds per year = 30 × 12 = 360.
Therefore, the correct nt value for Marie to use in her annuity payment calculation formula is 360 (option a).