Susan Hernandez Purchased a Home for $200,000 and Made a Down

question 27

Multiple Choice

Susan Hernandez purchased a home for $200,000 and made a down payment of $20,000. The balance was financed for 20 years at an annual interest rate of 4%. Find the monthly mortgage payment.

• A) $545.38
• B) $763.53
• C) $1090.76
• D) $1636.15
• E) $2181.53

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