Question

Suppose a house sells for $125,000, and a 20% down payment of $25,000 is made. If the remaining amount of $100,000 is financed at a rate of 3.75% for 30 years, how much is the monthly mortgage payment? Use the Geogebra TVM calculator linked here: TVM calculator (Remember to use 12 for P/Y and 12 for C/Y.) Round your answer to the nearest cent. $3497.23 $578.89 $4371.53 $277.78 $463.12

Answer 1

`\huge{\mathsf{\boxed{Answer:}}}`

Using the TVM calculator and plugging in the given values, the monthly mortgage payment is approximately $463.12 when rounded to the nearest cent.