Answer:
1633.46
Explanation:
If you borrow $300,000 at 6.500% for 30 years, your monthly payment will be $1,896.20.
The payments on a fixed-rate mortgage do not change over time. The loan amortizes over the repayment period, meaning the proportion of interest paid vs. principal repaid changes each month. As the loan amortizes, the amount of monthly interest paid decreases while the amount of principal repaid increases.
