Answered: A family takes out a $168,500 mortgage…

A family takes out a $168,500 mortgage at 6.5% interest compounded monthly with monthly payments for 30 years. What would their monthly payments be? Round your answer to the nearest cent.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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A family takes out a $168,500 mortgage at 6.5% interest compounded monthly with monthly payments for 30 years. What would their monthly payments be? Round your answer to the nearest cent.

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