Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
← 55 members online
 0 viewing
starrhunter
Group Title
Check my work please?
I got B for this one. But I am confused because it says compounded monthly. Did I skip a step or is B right?
Alice purchased a house using a fixed rate mortgage. The annual interest rate is 5.6% compounded monthly for 30 years. The mortgage amount is $205,000. What is the monthly payment on the mortgage?
$601.33
$1,176.86
$1,189.00
$1,271.15
 4 months ago
 4 months ago
starrhunter Group Title
Check my work please? I got B for this one. But I am confused because it says compounded monthly. Did I skip a step or is B right? Alice purchased a house using a fixed rate mortgage. The annual interest rate is 5.6% compounded monthly for 30 years. The mortgage amount is $205,000. What is the monthly payment on the mortgage? $601.33 $1,176.86 $1,189.00 $1,271.15
 4 months ago
 4 months ago

This Question is Closed
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.