Your mortgage requires that you pay $12,000 at the end of each of the next 30 years.If the annual interest rate is 12%,then you must have borrowed approximately:
A) $117,660.
B) $96,660.
C) $78,660.
D) $63,660.
E) $133,660.

Name: Your mortgage requires that you pay $12,000 at the end of each of the next 30 years.If the annual interest rate is 12%,then you must have borrowed approximately: A) $117,660. B) $96,660. C) $78,660. D) $63,660. E) $133,660.
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Question

Quizplus · Accepted Answer

The Answer is B

Your Mortgage Requires That You Pay $12,000 at the End