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VashaNatasha [74]
3 years ago
14

Please give me the answers lol

Mathematics
1 answer:
lana66690 [7]3 years ago
6 0
First one is 113.04. Second one is 153.86
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Jamie purchased a condo for $89,900 with a down payment of 20%; her credit terms were 5% for 15 years. what is jamie's monthly p
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\bf \qquad \qquad \textit{Amortized Loan Value}
\\\\
pymt=P\left[ \cfrac{\frac{r}{n}}{1-\left( 1+ \frac{r}{n}\right)^{-nt}} \right]
\\\\

\bf \begin{cases}
P=
\begin{array}{llll}
\textit{original amount}\\
\end{array}\to &
\begin{array}{llll}
\quad89900\\
\ \ -20\%\\
-17980\\
-----\\
\quad 71920
\end{array}\\
pymt=\textit{periodic payments}\\
r=rate\to 5\%\to \frac{5}{100}\to &0.05\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{payments are monthly, thus}
\end{array}\to &12\\
t=years\to &15
\end{cases}
\\\\\\
pymt=71920\left[ \cfrac{\frac{0.05}{12}}{1-\left( 1+ \frac{0.05}{12}\right)^{-12\cdot  15}} \right]
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