Easy points!

kendall is buying a home for $119,000. she is making a 12% down payment and financing the rest with a 20-year loan at 4.5% interest.

what is her monthly mortgage payment?

a. $582.03

b. $662.46

c. $752.79

d. $903.35

Option B is correct.

The monthly payment is $662.46

Step-by-step explanation:

Kendall is buying a home for $119,000

She is making 12% down payment

Amount of down payment = 0.12 x 119000 = 14280

Amount for laon = 119000 - 14280 = 104,720

Rate of interest = 4.5% for 20-years loan.

We are given a table for particular year for particular rate of interest monthly payment.

First we check how much monthly payment per thousands.

Monthly payment for $1000  = 6.326

She had loan amount $104,720

First we find number of thousands in this value.

So, we will divide by 1000

Number of thousands = 104720 ÷ 1000 = 104.72

Monthly payment = 104.72 x 6.326 = $662.46

Hence, The monthly payment is $662.46

a

step-by-step explanation:

i agree because i see the other persons thinking is clear