You decide to purchase a house and need a $160, 000 mortgage. You take out a loan from the bank that has an annual interest rate of 6%. What is the monthly payment to the bank to pay off the loan in 20 years? ( i need final answer only no need of all calculation)

You decide to purchase a house and need a $160, 000 mortgage. You take out a loan from the bank that has an annual interest rate of 6%. What is the monthly payment to the bank to pay off the loan in 20 years? ( i need final answer only no need of all calculation)

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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