Answer:
Option B- Monthly payment = $527.78
Step-by-step explanation:
Given : Ashley Harrison takes out a $100,000 mortgage. The total amount of interest for 30 years is $90,000.
To find : What is the payment per month?
Solution : Ashley Harrison takes out a $100,000 mortgage. Amount for 30 years $90,000.
Since the total paid for 30 years is :
[tex]100000 + 90000 = 190000[/tex]
The monthly payment time is 30 years
In months, [tex]n= 12\times30 = 360[/tex]
[tex]\text{Monthly payment}=\frac{\text{Total amount}}{\text{n}}[/tex]
[tex]\text{Monthly payment}=\frac{190000}{360}=527.78[/tex]
Therefore, Monthly payment = $527.78
Hence, Option B is correct.
