Marie is purchasing a $105,000 home with a 30 year mortgage at 5.25%. what’s her monthly principal and interest payment?
a. $414.73
b. $503.23
c. $556.09
d. $579.81

Her monthly principal payment is D: $579.81 and monthly interest payment is 0.4375.

Step-by-step explanation:

Ok, in order to calculate the monthly principal and interest payment, we can use this relatively simple equation. The equation is:

Where variables represent the following:

M is your monthly payment.

P is your principal.

r is your monthly interest rate, calculated by dividing your annual interest rate by 12.

n is your number of payments (the number of months you will be paying the loan throughout the 30 years)

Then, in this case:

M=?

P=$105,000

5.25%=5.25/100=0.0525, then

So, $

Solving this,

$

$

$

$

Her monthly principal payment is $579.81.

for the first question it would be the second answer for the second question it would be the third answer and for the third question it would be the first answer

step-by-step explanation:

step-by-step explanation: