Question 9 (10 points)
Suppose a house sells for $125,000 and a 20% down payment of $25,000 is made.
If the remaining amount of $100,000 is financed at a rate of 3.75% for 30 years, how
much is the monthly mortgage payment? Use the Geogebra TVM calculator linked
here: TVM calculator (Remember to use 12 for P/Y and 12 for C/Y.)
Round your answer to the nearest cent.
$3497.23
$578.89
$4371.53
$277.78
$463.12