A new school building was recently built in the area. The entire cost of the project was $20,000,000. The city has put t

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answerhappygod
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A new school building was recently built in the area. The entire cost of the project was $20,000,000. The city has put t

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A new school building was recently built in the area. The entirecost of the project was $20,000,000. The city has put the projecton a 20-year loan with an APR of 3.1%. There are 19,000 familiesthat will be responsible for making monthly payments towards theloan. Determine the total amount that each family should berequired to pay each year to cover the cost of the new schoolbuilding. Round your answer to the nearest cent, ifnecessary.
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