Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore thousands of questions and answers from knowledgeable experts in various fields on our Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
Sagot :
9514 1404 393
Answer:
$3633.96
Step-by-step explanation:
The monthly payment is given by the amortization formula:
A = P(r/12)/(1 -(1 +r/12)^(-12t))
monthly payment for principal P at annual rate r for t years.
A = $672096(0.04/12)/(1 -(1 +0.04/12)^(-12·24)) = $3633.96
The monthly payment for the mortgage is $3633.96.
Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.