With interest rates at 4.875% for a 30-year fixed mortgage, Dan, age 48, plans to buy a

Question:

With interest rates at 4.875% for a 30-year fixed mortgage, Dan, age 48, plans to buy a house for $825,000. He wants to put half of the purchase price down. What will his monthly mortgage payment be for principal and interest?

a. $2,182.98;

b. $2,768.55.

c. $33,176.43:

d. $3,493.67.

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Ali Khawaja

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