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Trevor currently pays $3,592.40 per month for his mortgage payment. That is 1.6% more than it was last year, due to refinancing. What was the previous payment amount? Round your answer to the nearest cent.
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Trevor currently pays $3,592.40 per month for his mortgage payment. That is 1.6% more than it was last year, due to refinancing. What was the previous payment amount? Round your answer to the nearest cent.

User Catlan
by
8.1k points

1 Answer

6 votes

Answer:

$3534.9216

Explanation:

1.6% of 3,592.40 = 57.4784

3,592.40 - 57.4784 = 3534.9216

User Dror
by
8.7k points
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