Real Estate Math
A buyer gets a $360,000 mortgage at 5.5% for 30 years. Monthly PI factor is $5.68 per $1,000. What is the monthly PI payment?
A$2,044.80✓ Correct
B$1,980.00
C$2,160.00
D$2,040.00
Explanation
$360,000 ÷ $1,000 = 360 units. Payment: 360 × $5.
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