Question

please check my answer :)

The monthly payment of a $100,000 mortgage at a rate of 8 1/2 % for 20 years is 8678.23

Answer 1

Does a payment of almost 9 thousand dollars a month make sense to you? At that rate, you'd have the mortgage paid in about a year (12 * $9,000 = $108,000.

Answer 2

$867.82