Question

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.

Answer 1

$3534.9216

Explanation:

1.6% of 3,592.40 = 57.4784

3,592.40 - 57.4784 = 3534.9216