Answer:
monthly payment=$322.52
Step-by-step explanation:
cost of house=$290,000
down payment= 20%
interest monthly = 4.2%
interest rate compounded monthly so (i)=4.2/12=0.35%
months= [tex]30\times 12[/tex]=360 months
down payment = [tex]0.2\times 290000[/tex]
=$58000
amount to be paid(P)=$232,000
[tex]P=R\frac{(1+r)^n-1}{i}\\232000=R\frac{(1+0.0035)^{360}-1}{0.0035}\\232000=R\times 719.33[/tex]
R=$322.52
sara's monthly payment will be $322.52