Real Estate Math
A Kansas buyer finances $195,000 at 6.5% for 30 years. The monthly payment factor is $6.32 per $1,000. What is the monthly P&I payment?
A$1,232.40✓ Correct
B$1,294.20
C$1,298.40
D$1,345.80
Explanation
$195,000 ÷ $1,000 × $6.32 = 195 × $6.
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