What is the monthly payment on a 15-year loan of $90 100 if the annual interest rate is 6.5%? The monthly principal and interest payment per $1000 of mortgage is 8.71107.
I forgot the formula.

A.$810.00
B.$784.87
C.$760.44
D.$672.15

Answer is B

Formula is: P=r(PV)/1-(1+r)-n

r = .065/12 = .00541
P = $90,100
n = 15 x 12 = 180

P= 90,100 X 0.00541 / 1 - (1 + 0.00541)-180

P= $784.87

First, think of what you know. you know that the number t the end of the equation will need to be subtracted because it is the money he lost from buying the lawn mower. and your first two weeks have negative profit, so that tells you that c and d are wrong. now you can plug any of the weeks into a and b to see which one works. i'll start with plugging week 1 into a.this isn't right because it says your answer for week one should be -90.so now we need to try the same thing with b.this one got you the right answer, (sometimes if you only check with one of the weeks multiple will work so you need to check with more of the weeks, but it worked out fine here)this means that b is the correct answer.let me know if you need more clarification. i hope this : )