Real Estate Math
An Alaska buyer borrows $180,000 at 4.5% for 15 years. The monthly factor is $7.65 per $1,000. Monthly P&I payment is:
A$1,200.00
B$1,292.50
C$1,377.00✓ Correct
D$1,488.00
Explanation
Monthly P&I = ($180,000 ÷ $1,000) × $7.65 = 180 × $7.
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