Review the Monthly Principal & Interest Factor chart to answer the question:
FICO Score APR 30-Year Term 20-Year Term 15-Year Term
770–789 5.5 $5.68 $6.88 $8.17
750–769 6.0 $6.00 $7.16 $8.44
730–749 6.5 $6.32 $7.46 $8.71
710–729 7.0 $6.65 $7.75 $8.99
690–709 7.5 $6.99 $8.06 $9.27
Calculate the monthly payment, for a 15-year term mortgage, after a 20% down payment on a $181,700.00 purchase price, for a household with a 760 credit score.
$1,226.84
$1,365.71
$1,528.93
$1,834.46
