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melisa1 [442]
3 years ago
13

Alice purchased a house using a fixed rate mortgage. The annual interest rate is 5.6% compounded monthly for 30 years. The mortg

age amount is $205,000. what is the monthly payment on the mortgage?
Mathematics
1 answer:
zhuklara [117]3 years ago
5 0
Hi there
The formula of the present value of annuity ordinary is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
So we need to find the monthly payment pmt
Pmt=pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 205000
R interest rate 0.056
K compounded monthly 12
N time 30

PMT=205,000÷((1−(1+0.056÷12)^(
−12×30))÷(0.056÷12))
=1,176.86...answer

Hope it helps
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Answer:

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Step-by-step explanation:

7 0
3 years ago
The average basketball has a diameter of 9.5 inches. What is the volume of an average basketball?
Elodia [21]

the formula for volume of sphere is 4/3||r^3

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in the formula we need to have radius but we have been given diameter so we convert diameter to radius

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6 0
2 years ago
What’s measure of angle C?
Oduvanchick [21]
The angle is 60° because
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and to check the answer

x = 30

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7 0
3 years ago
Ms.Malone received $3.40 in change. What is the amount as a fraction in simplest terms.
sammy [17]
To write 3.40 as a fraction you have to write 3.40 as numerator and put 1 as the denominator. Now you multiply numerator and denominator by 10 as long as you get in numerator the whole number.
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And finally we have:
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3 0
3 years ago
MANNEEEEEEEEEEEEEEE HELPPPPPPPPPPPPPPP
Elza [17]

Answer:

x=20

Step-by-step explanation:

just use the pythagorean theorem!!

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this means that x=20!

hope this helps!! :)

6 0
3 years ago
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