Answer:
The monthly payments during the term of the loan will be $1,043.
Step-by-step explanation:
Given that Curtis is buying a home, and it's mortgage loan is 360,000 at 4.3 percent interest for 30 years, making 12 payments a year one per month, to determine her monthly payment the following calculation has to be done:
360,000 x 0.043 = 15,480
15,480 + 360,000 = 375,480
375,480 / (12 x 30) = X
375,480 / 360 = X
1.043 = X
Thus, the monthly payments during the term of the loan will be $ 1,043.
