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Garrett took out a 20-year loan for $80,000 at 7.7% interest, compounded monthly. What is his monthly payment? A. $550.86 B. $570.37 C. $601.64 D. $654.29

Garrett took out a 20-year loan for $80,000 at 7.7% interest, compounded monthly. What is his monthly payment? A. $550.86 B. $570.37 C. $601.64 D. $654.29
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Garrett took out a 20-year loan for $80,000 at 7.7% interest, compounded monthly. What is his monthly payment?

A. $550.86
B. $570.37
C. $601.64
D. $654.29

asked
User Rgaut
by
7.8k points

2 Answers

5 votes
D. $654.29 Apex Confirmed.
answered
User Muthurathinam
by
8.5k points
5 votes
Monthly payment: $654.29. I hope this helps!
answered
User Fitz
by
7.6k points
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