A mortgage broker offers to sell you a mortgage loan contract that will pay $800 at the

Question:

A mortgage offers to sell you a mortgage loan contract that will pay $800 at the end of each month for the next 3 1/2 years, at which time the principal balance of $45,572 is due and receivable. What is the highest price you should pay for the contract if you require a return of at least 7.5% compounded monthly?
Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...