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MMLU-Pro / 8959 / A home buyer can afford to spend no more than 800/ month on mortgage…

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question

A home buyer can afford to spend no more than $800/\$ 800 / month on mortgage payments. Suppose that the interest rate is 9%9 \% and that the term of the mortgage is 20 years. Assume that interest is compounded continuously and that payments are also made continuously. Determine the total interest paid during the term of the mortgage.
Plain-text mathematical notation (without MathML)
A home buyer can afford to spend no more than $800/ month on mortgage payments. Suppose that the interest rate is 9% and that the term of the mortgage is 20 years. Assume that interest is compounded continuously and that payments are also made continuously.
Determine the total interest paid during the term of the mortgage.
Original LaTeX notation
A home buyer can afford to spend no more than $\$ 800 /$ month on mortgage payments. Suppose that the interest rate is $9 \%$ and that the term of the mortgage is 20 years. Assume that interest is compounded continuously and that payments are also made continuously.
Determine the total interest paid during the term of the mortgage.

category

math

options

  1. 102,965.21 $
  2. $125,789.99
  3. $98,765.43
  4. $75,000.00
  5. $150,000.00
  6. $68,500.45
  7. $110,200.35
  8. $93,450.89
  9. $85,250.65
  10. $120,345.78

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