Your monthly mortgage payment (principal plus interest) is $1,750 . If you have a 30-year loan with a fixed interest rate of 0.3% per month, how much did you borrow from the bank to purchase your house (rounded to the nearest whole dollar)? (Do not enter a dollar sign $ with your answer.)

Answer rating: 100% (QA)

ANSWER To calculate the amount borrowed we use the formula for the monthly mortgage payment P3... View the full answer