Jordan is considering buying her first home. the house she is interested in buying is priced at 169,000. jordan qualifes for a 30-year mortgage at 5.95%. what will be her monthly mortgage payment

Use the formula of the present value of annuity ordinary

pv=pmt [ (1 - (1+r/k) ^ (-kn)) : (r/k) ]

Solve for pmt (monthly payment)

Pmt = pv:[ (1 - (1+r/k) ^ (-kn)) : (r/k) ]

Pmt=169,000: ((1 - (1+0.0595:12) ^ (

-12*30)) : (0.0595:12)) = 1,007.81 ... Answer