Question: B D E A 1 2 Mortgage amount 3 Payments per year 4 Term (years) $300,000 12 Annual interest rate 1) Monthly payment amount ($)

B D E A 1 2 Mortgage amount 3 Payments per

B D E A 1 2 Mortgage amount 3 Payments per year 4 Term (years) $300,000 12 Annual interest rate 1) Monthly payment amount ($) 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%, $300,000 mortgage as a positive value? Multiple Choice =PMTB7/$B$3.A7-$B$3.$B$2) =PMT(B7 A7,B2) --PMT(B7/$B$3,A7 $B$3.$B$2) O --PMT(B7-$B$3.A7/$B$3.$B$2)

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