If the purchase price for a house is $445,500, what is the monthly payment if you put 5% down for a 30 year loan with a fixed rate of 6.25%? a. $2,740.19 b. $2,605.87 c. $1,314.84 d. $1,249.10

The answer is b.$2,605.87

Option B 2605.87 dollars is the right answer

Step-by-step explanation:

Given that purchase price for a house if

445,500

Tenure of loan = 30 years

Down payment =5% = 22775

Loan amount = 445500-22775 =422725

Rate of interest - 6.25%

Hence for the above information monthly payment would be

EMI for 30 year loan of 422725 at the rate of 6.25%

is b) 2605.87

You could add six hundred seventy eight and three hundred three together by going right to left. three plus eight is eleven and so you carry the one and add the one with the seven and zero which is eight. finally, you add the six and three together which gives you nine. and you final answer is nine hundred eighty one
981