Problem
Mr. Wiggley wants to buy a new house. It will cost $178,000. The bank will loan 90% of the purchase price at a nominal interest rate of 10.75% compoundedweekly, and Mr. Wiggley will make monthly payments. What is the amount of the monthly payments if he intends to pay the house off in 25 years?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.