Suppose that the total interest that will be paid on a 20-year mortgage from a home loan of $100,000 is going to be $420,000. What will be the payments each month if the payments are to pay off both the loan and the interest (rounded to the nearest hundredth)?

$1800

Step-by-step explanation:

Assuming that there is no downpayment, 20 years has 20*12=240 months since each year has 12 months

Total payment being $420, 000 then monthly payment will be $420, 000/240 months=$1750 per month

Rounding off to the nearest hundred, this is approximately $1800

Therefore, the monthly payment will be approximately $1800

answer 1 : option "c"

answer 2 : option "d"

answer 3 : option "b"

answer 4 : option "d"

answer 5 : option "b"

answer 6 : option "a"

answer 7 : option "c"

answer 8 : option "d"

answer 9 : option "c"

answer 10 : option "d"

answer 11 : option "c"

answer 12 option "b"

answer 13 option "c"

answer 14 option "c"

answer 15 option "d"

answer 16 option "a"

answer 17 option "b"

answer 18 option "c"

answer 19 option "a"

answer 20 option "a"

answer 21 option "c"

d