Multiple Choice
Solve the problem. If necessary, use the table of monthly payments below. Round your answer to the nearest cent.
Monthly Payments to Repay Principal and Interest on a $1000 Mortgage 
-Find the monthly payment needed to amortize principal and interest for the following fixed-rate mortgage.
Mortgage amount: $106,500
Term of mortgage: 25 years
Interest rate: 10%
A) $1027.75
B) $1005.55
C) $930.49
D) $967.766565
Correct Answer:
Verified
Correct Answer:
Verified
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