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Cassidy is planning to obtain a loan from her bank for $210,000 for a new home. the bank has approved cassidy’s loan at a fixed annual interest rate of 2.7% compounded monthly for 15 years. use the formula to determine cassidy's approximate monthly payment.

Sagot :

=210000(2.7/12) /1 -(1+2.7/12) - 15×12

= $47068.77

so Cassini's approximately monthly payment will be $47068.77

What is the payment monthly?

The monthly payment is the quantity paid per month to pay off the loan in the time period of the loan. When a loan is taken out it isn't only the top amount, or the original payment loaned out, that needs to be repaid, but also the good that accumulates.

What is the minimum amount?

A minimum payment is the smallest amount owed on a debt by a set due date without incurring penalties. Minimum payment is a term typically associated with credit card accounts.

To learn more about monthly payment, refer

https://brainly.com/question/2151013

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