X^2 - 4x + 2
d = b^2 - 4ac, where a = 1, b = -4 and c = 2
d = (-4)^2 - 4 x 1 x 2
d = 16 - 8
d = 8
Multiply 2/10 by 3/1 and you should end up with 6/10
Answer:
The new mortgage repayment is $10,580.69
Step-by-step explanation:
As at the time Douglas lost his job,he has already made repayments on the mortgage for a period of 7 years,by extending the repayment period by another 7 years,Douglas now have a period of repayment of 30 years now(30-7+7).
The new repayment yearly can be computed using the pmt formula in excel as given below:
=pmt(rate,nper,-pv,fv)
rate is the interest rate on mortgage given as 4.25%
nper is the period of repayment now 30 years
pv is the current of balance of $177,533.62
fv is the total amount repayable on the mortgage and it is not known hence taken as zero
=pmt(4.25%,30,-177533.62,0)=$10,580.69
Someone deleted my answer but if you need to look back its 90000