Question: A couple borrows 250000.00 for a mortgage that requires fixed monthly payments over 30 consecutive years. The first monthly payment is due in one month.

A couple borrows 250000.00 for a mortgage that requires fixed monthly payments over 30 consecutive years. The first monthly payment is due in one month. If the interest rate on the mortgage is 4.00%, which of the following comes closest to the monthly payment?

		$694.44
		$1193.54
		$1204.79
		$722.22
		$1186.76

A couple borrows 250000.00 for a mortgage that requires fixed monthly payments

comes closest to the monthly payment? $694.44$1193.54$1204.79$722.22$1186.76

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