Real Estate Math
A Utah buyer pays 20% down on a $520,000 home and finances the rest at 6.75% for 30 years. Using a factor of $6.49 per $1,000, what is the approximate monthly P&I payment?
A$416,000✓ Correct
B$2,248
C$3,381
D$2,491
Explanation
Loan = $520,000 × 0.80 = $416,000.
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