S4hamithBrG2race S4hamithBrG2race

23-05-2016
Mathematics

contestada

Nell's mortgage is $50,150 at 10 percent for 30 years. What is her monthly payment if she must pay 8.78 points per $1,000? (Points : 1)
$440.32
$439
$422.95
$385.89

Respuesta :

meerkat18 meerkat18

31-05-2016

I actually don't know the actual computation. I used a mortgage points calculator and inputted the data given.

The monthly payment given based on its computation was $440.10. The closest answer is 440.32.

The difference in decimal point is due to the rounding off of 8.78 points to 8.8 points in the calculator.

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