In order to purchase a home, a family borrows $159,000 at 6.5% for 30 years. round the answer to the nearest cent

The answer is$1006.47

Step-by-step explanation:

(I think you couldn't attach the table with shows the monthly payments per $1000 mortgage for 30 years so I am taking the value to be 6.33)

A family borrows $159,000 at 6.5% for 30 years to buy a home which means that the given figure above shows us the monthly rent and interest in mortgage of $1000.

If the monthly interest rate for 30 years is 6.33 dollars. and we are to borrow $159,000, we just need to multiply 159 by 6.33:

159 x 6.33 = 1006.47

Therefore the monthly rent for 30 years would be $1006.47