question archive A $104,000 selling price with $24,000 down at 8½% for 25 years results in a monthly payment of: $654
A $104,000 selling price with $24,000 down at 8½% for 25 years results in a monthly payment of: $654
Subject:BusinessPrice:2.87 Bought7
A $104,000 selling price with $24,000 down at 8½% for 25 years results in a monthly payment of:
$654.60
None of these
$644.18
$645.60
$546.06
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Answer:
104,000-24,000=80,000
8.5/12=0.70833%
25*12=300
[1-(1.0070833)^-300]/0.0070833=124.1886
80,000/124.1886=644.182
the answer is thus: $644.18
