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question 224

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Solve the problem. If necessary, use the table of monthly payments below. Round your answer to the nearest cent.
Monthly Payments to Repay Principal and Interest on a $1000 Mortgage Solve the problem. If necessary, use the table of monthly payments below. Round your answer to the nearest cent. Monthly Payments to Repay Principal and Interest on a $1000 Mortgage -Find the monthly payment needed to amortize principal and interest for the following fixed-rate mortgage. Mortgage amount: $77,000 Term of mortgage: 15 years Interest rate: 11.5% A) $875.18 B) $899.51 C) $821.15 D) $924.13
-Find the monthly payment needed to amortize principal and interest for the following fixed-rate mortgage.
Mortgage amount: $77,000
Term of mortgage: 15 years
Interest rate: 11.5%

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