SOLUTION: Is it B? I'm checking my answers. Chris is purchasing a house and needs to finance a $150,000 mortgage from the bank with an annual percentage rate (APR) of 3.8% He is finan

Algebra ->  Sequences-and-series -> SOLUTION: Is it B? I'm checking my answers. Chris is purchasing a house and needs to finance a $150,000 mortgage from the bank with an annual percentage rate (APR) of 3.8% He is finan      Log On


   



Question 1160609: Is it B? I'm checking my answers.
Chris is purchasing a house and needs to finance a $150,000 mortgage from the bank with an annual percentage rate (APR) of 3.8%
He is financing it over 30 years and making monthly payments. what is the monthly payment?

A. $416.67
B. $698.94
C. $833.33
D. $1393.88

The question is provided in the link here: https://i.imgur.com/kBftnvD.png

Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!

yes, it is B
You will need to pay $698.94+every month for 30+years to payoff the debt.