You are considering purchasing a new home. You will need to borrow $275,000 to purchase the home. A mortgage company offers you a 30-year fixed rate mortgage at 6% APR (0.5% month). If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to:

the answer = -1648.76

Regardless of your answer to question 5, assume the monthly mortgage payment is $1,750. All other terms are the same. What will be the loan balance after 10 years assuming all monthly payments of $1,750 are made on time? Still use the same APR even though $1,750 is not the true payment. A.$271,164 B. $213,545 C. $275,000 D.$247,454 E. $110,921