The price of a home is 270 000 The bank requires a 5 down payment at the time of closing The mortgage on the house is a 30 year fixed rate mortgage at 7 Use this information to find the amount of the monthly payment Round your answer to the nearest cent Use the formula below to solve the problem Payment 2 nxt 1 1 1 1 695 2 1 796 3 1 807 PL n 4 1 707