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Ms. Morrison is purchasing a house and needs to finance a $150,000 mortgage from the bank with an annual percentage rate (APR) of 3.8%. She is financing it over 30 years and mak…

Ms. Morrison is purchasing a house and needs to finance a $150,000 mortgage from the bank with an annual percentage rate (APR) of 3.8%. She is financing it over 30 years and mak…
asked 170k views
3 votes
Ms. Morrison is purchasing a house and needs to finance a $150,000 mortgage from

the bank with an annual percentage rate (APR) of 3.8%. She is financing it over 30
years and making monthly payments. What is the monthly payment?

asked
User Nick Redmark
by
8.0k points

1 Answer

3 votes
ms. morrison would have to pay $698.94 monthly for the next 30 years
answered
User Prcvcc
by
7.2k points
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