The answer is distribute property
Answer: true
Step-by-step explanation:
Answer:
8.9
Step-by-step explanation:
The rules for rounding are if the number is 5 or higher, round up. If it is 4 or lower, round down.
Answer:
$390,900
Step-by-step explanation:
Given:
Initial payment = $965
New rapayment = $925 when she decided to refinance her ballon payment with a 30 year mortgage
In this case, a 5/25 ballon mortgage simply means loan repayment for the first 5 years is at a fixed rate.
Which means the total amount she paid in the first five years was=
12 * 5 * $965 = $57,900
When she refinanced the payment with a 30 year mortgage, her total payment = $925 * 12 * 30years = $333,000
Total financed cost Patricia paid =
$57,900 + $333,000 = $390,900
