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Please post a tentative solution to the problem below following the mortgage formula and using...

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Basic Math

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Please post a tentative solution to the problem below following the mortgage formula and using exponential equations and logarithms as appropriate to solve for time Mortgage Formula 1 1 nt M n Pn where P monthly payment r annual rate n number of payments per year typically 12 t years of mortgage Suppose you wanted to take out a mortgage for 100 000 with monthly payments at 9 but you can only afford 800 monthly payments How long will you have to make payments to pay off the mortgage How much interest would you pay for this period hint subtract the total amount paid over the time of the mortgage and the original mortgage amount

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