2 years ago

Hello ~

Mathematics

1 answer:

lana66690 [7]2 years ago

7 0

Answer:

Isolate the variable by dividing each side by factors that don't contain the variable.

Exact Form:

X = -7^3

Step-by-step explanation:

Hope this helped

Branliest?

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A investor obtained a loan of $600,000 to buy a car wash business. The monthly mortgage payment was based on 30 years at 5.5%. F

Lisa [10]

Answer:

The monthly mortgage payment is $ 8306.58

Step-by-step explanation:

Given as :

The loan taken as $ 600,000

The rate of interest = 5.5 %

The time period = 30 Years

So, from compounded method

Amount = principal × $(1 +\frac{Rate}{100})^{Time}$

or, Amount = $ 600,000 × $(1 +\frac{5.5}{100})^{30}$

Or, Amount = $ 600,000 × $(1.055)^{30}$

∴ Amount = $ 2990370.77

<u>Now for The monthly mortgage payment </u>

∵ Time period is 30 years

So , 30 years = 12 × 30 = 360 months

∴ Amount payment in monthly =$ $\frac{2990370.77}{360}$

Or, Amount payment in monthly =$ 8306.58

Hence The monthly mortgage payment is $ 8306.58 Answer

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