please check my answer

thanks :)

The monthly payment on a $90,000 mortgage at a rate of 7.5% interest for 30 years is $630.00

Using

http://www.hsh.com/cgi-bin/flap.cgi?prin=90000.&int=7.50&term=30&strt=Jan&stry=2007&full=No&ppay=0&apay=0&pay1=0&ppno=0

I get $629.29

Your answer of $630 is the nearest whole-dollar amount that will pay it off in 30 years or less. At that rate it might be paid off a month or two early

To verify if the monthly payment on a $90,000 mortgage at a 7.5% interest rate for 30 years is $630.00, we can use a loan payment calculation formula.

The formula to calculate the monthly payment on a mortgage is:

P = (r * A) / (1 - (1 + r)^(-n))

Where:
P is the monthly payment
A is the loan amount
r is the monthly interest rate (annual interest rate divided by 12)
n is the total number of payments (number of years multiplied by 12)

Let's plug in the values and calculate the monthly payment:

Loan amount (A): $90,000
Annual interest rate: 7.5%
Monthly interest rate (r): 7.5% / 100 / 12 = 0.00625
Number of payments (n): 30 years * 12 = 360

P = (0.00625 * $90,000) / (1 - (1 + 0.00625)^(-360))
P ≈ $599.55

According to the calculation, the monthly payment on a $90,000 mortgage with a 7.5% interest rate for 30 years is approximately $599.55, not $630.00.

Please double-check your calculations or provide any further details if necessary.