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Find the Monthly House Payment Necessary to Amortize the Following $177,000\$ 177,000

Question 111

Multiple Choice

Find the monthly house payment necessary to amortize the following loan.
-In order to purchase a home, a family borrows $177,000\$ 177,000 at 3.4%3.4 \% for 30yr30 \mathrm{yr} . What is their monthly payment? Round the answer to the nearest cent.


A) $501.50\$ 501.50
B) $1517.42\$ 1517.42
C) $6162.65\$ 6162.65
D) $784.96\$ 784.96

Correct Answer:

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