Based on a table provided in your reading material determine the monthly payment for a $100,000 loan if the interest rate is 6% and the term is 15 years

Question

Mathematics

Merritt

6 August, 20:00

Based on a table provided in your reading material determine the monthly payment for a $100,000 loan if the interest rate is 6% and the term is 15 years

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Answers (1)

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Yahir Bullock · Answer 1

Answer: The monthly payment will be $843.86.

To find this answer, just use your table in the reading material. Find the payment that matches a $100,000 loan for 15 years at a rate of 6%.

If you don't have the table anymore, there are numerous online calculators that will give the same amount.