Based on Kathy's total cost of financing the home, the APR, and the period, her monthly payments would be $1,081.49.
How much would Kathy pay per month?
Find the monthly period:
= 25 x 12
= 300 months
The monthly rate:
= 5%/12
= 5/12%
The monthly amount is:
= 185,000 / (( 1 - (1 + 5/12%)⁻³⁰⁰) / 5/12%)
= $1,081.49
Find out more on monthly loan payments at https://brainly.com/question/25599836.
#SPJ1
