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You missed a monthly payment on your mortgage. Your monthly payment is $1,278. Your mortgage holder places a 5% penalty on all late monthly payments. What is your total penalty cost?
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5 votes
You missed a monthly payment on your mortgage. Your monthly payment is $1,278. Your mortgage holder places a 5%

penalty on all late monthly payments. What is your total penalty cost?

User BoshWash
by
4.0k points

1 Answer

2 votes

Answer: $63.90

Step by Step explanation:

$1,278 + 5% = 63.90

User Eyla
by
3.9k points
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