A new school building was recently built in the area. The entire cost of the project was

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Question:

A new school building was recently built in the area. The entire

cost of the project was $

22, 000, 000 .

The city has put the project

on a

30 -

year loan with an APR of

2.8 % .

There are

23, 000

families

that will be responsible for making monthly payments towards the

loan. Determine the total amount that each family should be

required to pay each year to cover the cost of the new school

building. Round your answer to the nearest cent, if

necessary.

Posted Date: May 18, 2024 09:03 PM

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A new school building was recently built in the area. The entire cost of the project was

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