Joni refinanced her home loan. The new loan of $$93,000\mathrm{.}00$ has an interest rate of $4\mathrm{.}3\%$ compounded monthly. She is planning to pay off the loan in $20$ years, what will her monthly payment be$?($Round all answers to $2$ decimal places.$)$

The monthly payment would be $

$578\mathrm{.}37$

Correct.

Assuming Joni paid all of the payments on time and did not prepay on the loan.

What is the total amount Joni paid and the total interest? $($Use the rounded payment.$)$

The total amount Joni paid was $

and the total interest was

$.$

Answer rating: 100% (QA)

We can apply the formula for a fixedrate mortgage payment to determine the monthly payment 1 1 1 M 1... View the full answer