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 Term of Mortgage (Years)
Find the monthly payment needed to amortize principal and interest for the following fixed-rate mortgage. Mortgage amount: $79,000Term of mortgage: 15 yearsInterest rate: 5.5%
A. $666.65
B. $645.50
C. $543.43
D. $624.73
Answer: B
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A. in.
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