What is required to calculate the mortgage payment amount?

To calculate the mortgage payment amount accurately, you need to know the loan amount, the equivalent nominal annual rate, and the number of months for the loan term.

The loan amount represents how much money is being borrowed, and it serves as the principal on which interest will be calculated. The equivalent nominal annual rate indicates the interest rate and is essential in determining how much interest is applied over the life of the loan. Lastly, the number of months reflects the duration of the loan, which affects how the payments are structured and calculated over time.

This combination of factors enables the use of mortgage payment formulas, such as the formula for an amortizing loan, which takes into account the principal, interest rate, and payment period to arrive at a monthly payment amount.

Other options may contain components of the mortgage calculation but do not include the complete set of necessary information. For instance, knowing only the property value or equity value without the actual loan terms, interest rates, and payment schedules wouldn't provide a reliable means to determine the mortgage payment. Thus, the requirement for the specific information outlined in option B is crucial for calculating the mortgage payment amount.