your parents are buying a house for 187 500 they have a good credit rating are making a 20% down payment and expect to pay $1,57
5/month the interest rate for the mortgage is 4.65% what must their realized income be before each month and how much interest is paid by the end of the second month
For the answer to the question above, $187,500 is a cost of a house. 20%, or $37,500 is the down payment. The loan amount would be $187,500 - $37,500 = $150,000. If we assume the annual rate of the loan is 4.65% Then the monthly rate would be 4.65%/12 = 0.3875% If the loan is $150,000, the interest is 0.3875% The interest for the first month is $150,000 * 0.3875% = $581.25. You stated that their payment is $1,575. So the amount that pays off the loan is $1,575 - $581.25 = $993.75. At the end of the month, they owe $150,000 - $993.75 = $149,006.25 and for the second month, the amount of the payment that goes towards interest is $149,006.25 * 0.3875% = $577.40. and the amount that goes towards the loan is $997.60.
At the end of the second month, they owe $148,008.65. Regarding they realized income, we recommend a monthly loan payment not to exceed 28% of the monthly income. So if a payment of $1,575 is 28% of Gross, Then it must be : $1,575 = 0.28*Gross. Gross = $5,625 monthly. About $67,500 annually. About $33.75 an hour.
Explanation: A plane consist of 3 point but it can also be called by one specific point. And in the figure A there is one specific point. We can call it plane A
The second one is the correct equation. The constant to the right should be the diameter squared, while the numbers inside the parentheses should be the opposite.
Before you can add or subtract fractions with different denominators, you must first find equivalent fractions with the same denominator, like this: Find the smallest multiple (LCM) of both numbers. Rewrite the fractions as equivalent fractions with the LCM as the denominator.
