Real Estate Math
A mortgage has a monthly payment of $1,100 for principal and interest. Over 12 months, how much is paid in total P&I?
A$11,000
B$12,100
C$13,200✓ Correct
D$13,750
Explanation
Annual P&I = $1,100 × 12 = $13,200. Using the values given ($1,100), apply the appropriate formula..
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