SOLUTION: Find the yearly cost of a $90,000 mortgage at 9.5% for 30 years if the monthly payment per $1,000 of mortgage is $8.41.
a) $756.90
b) $75.69
c) $9,082.80
d) None of these
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-> SOLUTION: Find the yearly cost of a $90,000 mortgage at 9.5% for 30 years if the monthly payment per $1,000 of mortgage is $8.41.
a) $756.90
b) $75.69
c) $9,082.80
d) None of these
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Question 181810This question is from textbook Business Mathematics
: Find the yearly cost of a $90,000 mortgage at 9.5% for 30 years if the monthly payment per $1,000 of mortgage is $8.41.
a) $756.90
b) $75.69
c) $9,082.80
d) None of these This question is from textbook Business Mathematics
You can put this solution on YOUR website! You are told monthly payment per $1,000 of mortgage is $8.41.
You have a 90,000 mortgage, so your monthly cost is 8.41*90
There are 12 months in a year, So yearly cost is 8.41*90*12 = 9082.80
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