What is the monthly mortgage constant on a 20-year mortgage loan of $75,000 requiring payments of $500 per month?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 68SGR
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  1. What is the monthly mortgage constant on a 20-year mortgage loan of $75,000 requiring payments of $500 per month?

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  1. What is the annual rate of return to the lender offering an $95,000, 30-year mortgage loan with monthly payments of $756.23?
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