Use the real estate amortization table to find the monthly payment for the loan.
-What is the monthly payment on a 15-year loan of $93,900 if the annual interest rate is 7%?

Question

Use the real estate amortization table to find the monthly payment for the loan. 
-What is the monthly payment on a 15-year loan of $93,900 if the annual interest rate is 7%?

Quizplus · Accepted Answer

Using the real estate amortization table, we find that the monthly payment for a 15-year loan of $93,900 at an annual interest rate of 7% is $844.16. Therefore, the best choice is B. Using the real estate amortization table, with a loan amount of $93,900, a term of 15 years, and an interest rate of 7%, we can find the monthly payment to be $844.16. Therefore, the best choice is B.

Use the Real Estate Amortization Table to Find the Monthly