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What will be the monthly payment on a home mortgage of $80,000 at 12% interest, to...

What will be the monthly payment on a home mortgage of $80,000 at 12% interest, to be amortized over 30 years? (Note: Since there are monthly payments, monthly compounding occurs)

A. $771.46 B. $822.89 C. $925.75 D. $1,034.533

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Expert Solution

Using Excel ans is B ie $822.89 is the monthly Emi

MI

Copy of screen shot is attached for refrence

jeff jeffy answered 2 years ago
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