1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
VARVARA [1.3K]
3 years ago
7

Chin Woo bought a home for $160,000. He put down 20%. The mortgage is a 8 1/2% for 25 years. His yearly payments are?

Mathematics
1 answer:
PolarNik [594]3 years ago
6 0
Amount of the mortgage after down payment is
160,000−160,000×0.2=128,000

Now use the formula of the present value of annuity ordinary to find the yearly payment
The formula is
Pv=pmt [(1-(1+r)^(-n))÷r]
Pv present value 128000
PMT yearly payment?
R interest rate 0.085
N time 25 years
Solve the formula for PMT
PMT=pv÷[(1-(1+r)^(-n))÷r]
PMT= 128,000÷((1−(1+0.085)^(
−25))÷(0.085))
=12,507.10 ....answer
You might be interested in
What is the answer for this question?
Savatey [412]

Answer:

A

Step-by-step explanation:

6 0
2 years ago
Read 2 more answers
What is the mean score Score<br> 90<br> 80<br> 70<br> 60
cupoosta [38]

Answer:

75

Step-by-step explanation:

Four scores....  add them together and divide by four

 (90 + 80 + 70 + 60) / 4 = 75

8 0
2 years ago
2y + 12 = -3x<br><br> solve pls i have more
frutty [35]
I believe that y=-1.5x-6 is the answer.
6 0
4 years ago
Read 2 more answers
Alberta Doan worked 6 hours at time-and-a-half pay and 3 ¼ hours at double-time pay. Her regular pay rate was $9.72 an hour. Wha
natka813 [3]

Answer:

Alberta's total overtime pay of the week was $ 145.80.

Step-by-step explanation:

Given that Alberta worked 6 hours at time-and-a-half pay, and 3 hours at double-time pay, and that the value of her regular work hour is $ 9.72, to determine the value of the pay of his overtime, the following equation must be performed:

6x1.5x9.72 + 3x2x9.72 = X

9x9.72 + 6x9.72 = X

87.48 + 58.32 = X

145.8 = X

Therefore, Alberta's total overtime pay of the week was $ 145.80.

3 0
3 years ago
What is the slope of the line below? If necessary, enter your answer as a
Westkost [7]

9514 1404 393

Answer:

  6/5

Step-by-step explanation:

The slope formula is useful for finding the slope.

  m = (y2 -y1)/(x2 -x1)

  m = (-1 -11)/(-5 -5) = -12/-10

  m = 6/5

The slope of the line through the given points is 6/5.

3 0
3 years ago
Other questions:
  • 23. 10c2 - 21c = -4c + 6
    10·1 answer
  • When comparing answers on a group assignment, Jenny and Jeremy found their answers did not match
    8·1 answer
  • A taxicab company charges $2.10 plus $0.80 per mile. Carmen paid a fare of $11.70. Write and solve an equation to find the numbe
    6·1 answer
  • The first four terms in a linear sequence are shown below.
    15·1 answer
  • Write 1.005 at the mix number then right how to this number out loud
    7·1 answer
  • In 2010, the population of Houston, Texas, was 2,099,451 and the population density was 3,501 people per square mile. What was H
    9·2 answers
  • Is 2/3 cups. How many cups are in 5 servings?
    7·1 answer
  • A shooting star forms a right triangle with the Earth and the Sun, as shown below:
    13·1 answer
  • 46 cubes are shaded out of 100. What is the ratio
    12·2 answers
  • Write an equation of the circle with center (-5,2) and diameter 6.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!