On june 1 you borrowed 195000 to buy a house the mortgage, Financial Management

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On june 1 you borrowed 195000 to buy a house the mortgage

On June 1, you borrowed $195,000 to buy a house. The mortgage rate is 2.5%. The loan is to be repaid in equal monthly payments over 15 years. All taxes and insurance premiums are to be paid separately. What would be your monthly payment?

approx. $1850

approx. $1500

approx. $1450

approx. $1300

approx. $1600

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Financial Management: On june 1 you borrowed 195000 to buy a house the mortgage

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Financial Management: On june 1 you borrowed 195000 to buy a house the mortgage

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