You just purchased a premier lot in an exclusive neighborhood for your future home.The lot cost $50,000,an amount you financed with a 96-month loan.If your interest rate is 9.25 percent compounded monthly,which of the following is closest to your monthly payment?
A)$744.55
B)$853.60
C)$767.23
D)$739.02
E)$810.92

Question

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The Answer of You just purchased a premier lot in an exclusive neighborhood for your future home.The lot cost $50,000,an amount you financed with a 96-month loan.If your interest rate is 9.25 percent compounded monthly,which of the following is closest to your monthly payment?
A)$744.55
B)$853.60
C)$767.23
D)$739.02
E)$810.92

You Just Purchased a Premier Lot in an Exclusive Neighborhood