Real Estate Math
A Missouri buyer's loan of $285,000 at 6.25% for 30 years has a monthly P&I payment using a factor of $6.16 per $1,000 of approximately:
A$1,527.60
B$1,655.60
C$1,755.60✓ Correct
D$1,853.60
Explanation
Monthly P&I = ($285,000 / $1,000) x $6.16 = 285 x $6.
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