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Obtain the property at the listing price

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A couple decides to buy a 2-bedroom, 2-bath condo in Los Gatos which is listed for $665,000. They plan to put 20% down. They have been pre-approved for a 30-year mortgage at a 3.75% annual percentage rate. They will make monthly payments with the first payment due one month after the purchase is complete.

1. If they are able to obtain the property at the listing price, how much will their monthly payments be?

Group of answer choices

  • $3,047.00
  • $3,216.64
  • $2,290.49
  • $2,463.77
  • $3,325.71

Reference no: EM132494618

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