Needs to be handed in at 3: 30
the jameses take out a mortgage on their $470,000 home. the mortgage has an interest rate of 4.6% and is amortized over 30 years by making monthly payments. how much will the james be paying each month on their home mortgage?

$2322.59

Step-by-step explanation:

Given

mortgage amount=$470,000

Interest rate annually=4.6%

Time=30 years

Monthly payments=?

Formula to apply

where

M=monthly payment for the mortgage

P=Principal amount =$470,000

i=rate per month=4.6÷12=0.3833%

n=30×12=360

Applying the formula

it should be a and d. lmk if i'm wrong xd

it's