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
RSB [31]
3 years ago
5

What is the monthly payment for a $20,230 loan at 11.5 percent for 20 years?

Mathematics
1 answer:
yKpoI14uk [10]3 years ago
4 0
The main formula is 
M= P (i(1+i)^n) / <span>(1+i)^n) - 1
M: monthly payment
P: mortgage principale= </span><span> $20,230
i=montly interest, 11.5%=11.5/100=0.115, i= 0.115/12=0.009
n=number of months=12x20(years)=240 months

M= </span>$20,230(0.009(1.009)^240) / (1.009)^240-1=<span>$20,230 x 0.0077 / 8.58-1
M=$20.57

</span>
You might be interested in
For each function, what is the output of the given input? for f(x) = 4x 7, find f(4)
shusha [124]
I hope this helps you




x =4



f (4)= 4.4+7 = 16+7=23



f (4)= 4.4-7=16-7=9
6 0
3 years ago
Help,anyone can help me do quetion​
FromTheMoon [43]

geckos sundry cheri suffering augusto

7 0
3 years ago
Read 2 more answers
If f(a)=4a-5 what is f(3)-f(1.25)
ladessa [460]

Answer:

f(a)=4a-5

1:    a=  -5  / f−4

f(3)-f(1.25)

2:   1.75f

Step-by-step explanation:

4 0
3 years ago
Read 2 more answers
Find the values of y = p(x) = √x for<br> x = 0, 1.44, 2.25, 3.24, 4.41, 5.29
zhenek [66]
P(x) = √x


for x = 0 → √0 = 0 and p(0) = 0
for x = 1.44 → √1.44 =1.2  and p(1.44) = 1.2
for x = 2.25 → √2.25 = 1.5 and p(2.25) = 1.5
for x = 3.24 → √3.24 = 1.8 and p(3.24) = 1.8
for x = 4.41 → √4.41=  2.1 and p(4.41) = 2.1
for x = 5.29 → √5.29 = 2.3 and p(5.29) = 2.3

6 0
3 years ago
How to find the volume of a prism that is 2ft by 1 1/2ft by 1 1/2 ft
Ann [662]
Multiply all to get, 4.5
6 0
3 years ago
Other questions:
  • Find the value of the underlined digit in 16403
    10·2 answers
  • Write the prime factorization of each number in exponential notation.
    9·1 answer
  • 2) Tell whether each statement about the expression 5y + 9 is True or False
    13·2 answers
  • Number 13 pleaseeeeeee
    15·2 answers
  • Solve <br> y=1/4x+5 y=2x-9
    12·1 answer
  • Please help me, I am having truboule mulitplying my fractions.
    5·1 answer
  • B is the midpoint of AC and AC=8r-20,and AB=3x-1<br> Find BC
    14·1 answer
  • At the end of a 10-year loan, $13,570 had been paid in interest. If the initial loan amount was $23,000, find the interest rate
    7·1 answer
  • Thank you!!! 20 points
    14·1 answer
  • A car travels a constant speed of 45 km/h
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!