Answer:
109,420,982
Step-by-step explanation:
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
Down payment is 20% of the price of the home. Since the couple saved $35,000, and assuming they will pay the whole money as down payment, the highest priced home they can get is a price whose 20% is $35,000.
We can setup an equation in x (being the price of home) to get the price of the most expensive home they can buy.
<em>Which number (x) , multiplied by 20%, is equal to $35,000?</em>
<em>
</em>
So, the most expensive house they can buy is worth $175,000.
ANSWER: $175,000
Answer: 3/5 probability of choosing a number LESS THAN 8
Parallel lines have the same slope so you use the 8 from the equation and plug in with your points to point slope form equation