Real Estate Math (alternative)
A Maryland buyer gets a 30-year loan for $280,000 at 6%. The monthly payment factor is $5.99 per $1,000. Monthly P&I is approximately:
A$1,677✓ Correct
B$1,677.20
C$1,694
D$1,730
Explanation
Monthly P&I = $280 × $5.99 = $1,677.
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