Mathematics

16 March, 08:03

Seven years ago, lan purchased a $265,000 home with a 30-year mortgage at 3.5%. Having recently lost his job, he can no longer afford to make his mortgage payments. If he currently owes $ 225,368.29 and his lender offered to extend the loan by 7 years at 3.25%, what will be his new mortgage payment?

A. 980.82

B. 973.36

C. 915.09

D. 983.23

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