SOLUTION: Several years ago Bill got a home mortgage of $120,000 with a term of 30 years at an APR of 9%. Use the Estimation Rule for Long-Term Loans to estimate his monthly payment.

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Question 1170457: Several years ago Bill got a home mortgage of $120,000 with a term of 30 years at an APR of 9%. Use the Estimation Rule for Long-Term Loans to estimate his monthly payment.
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
it would be 120000*0.09/12=$900.