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Question $8$

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Question text

You have borrowed $$650,000$ for $30$ years. The current interest rate is $5\mathrm{.}5\%$ per annum, calculated monthly. What is the monthly payment on your loan?

Question $8$Select one:

a$.$

$$3,991\mathrm{.}57$

b$.$

$$3,690\mathrm{.}63$

c$.$

$$3,750\mathrm{.}00$

d$.$

$$44,723\mathrm{.}50$

e$.$

None of the above