9514 1404 393
Answer:
$3633.96
Step-by-step explanation:
The monthly payment is given by the amortization formula:
A = P(r/12)/(1 -(1 +r/12)^(-12t))
monthly payment for principal P at annual rate r for t years.
A = $672096(0.04/12)/(1 -(1 +0.04/12)^(-12·24)) = $3633.96
The monthly payment for the mortgage is $3633.96.
