B C D E $300,000 2 Mortgage amount 3 Payments per year 4 Term (years) Annual interest rate 1) Monthly payment amount ($) 2) Total amount repaid over term ($) 3) Total interest paid over term ($) 5 6 7 8 9 10 25 20 30 25 10.0% 9.0% 9.5% 11.0% Which formula correctly calculates the monthly payment on a 20-year. 9.0%, $300.000 mortgage as a positive value? Multiple Choice =PMT(B7/$B$3,47 $B$3.$B$2) =PMT(B7,47.82 --PMT(B7/$B$3.97 $B$3.$B$2) --PMT(B7-$B$3.A7/$B$3.$B$2) B C D E $300,000 2 Mortgage amount 3 Payments per year 4 Term (years) Annual interest rate 1) Monthly payment amount ($) 2) Total amount repaid over term ($) 3) Total interest paid over term ($) 5 6 7 8 9 10 25 20 30 25 10.0% 9.0% 9.5% 11.0% Which formula correctly calculates the monthly payment on a 20-year. 9.0%, $300.000 mortgage as a positive value? Multiple Choice =PMT(B7/$B$3,47 $B$3.$B$2) =PMT(B7,47.82 --PMT(B7/$B$3.97 $B$3.$B$2) --PMT(B7-$B$3.A7/$B$3.$B$2)