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Suppose you are buying your first condo for 145000 and you

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Suppose you are buying your first condo for $145,000, and you will make a $15,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?

1. $821.69

2. $905.91

3. $780.60

4. $862.77

5. $741.57

Reference no: EM13483099

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