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
igomit [66]
3 years ago
5

Robert took out an 80/20 mortgage to buy a $145,000 house. The first (80%) mortgage has an interest rate of 4.75%, and the secon

d (20%) mortgage has an interest rate of 7.525%. Both mortgages are 30-year fixed-rate mortgages. What is the total mortgage payment for this house?
Mathematics
1 answer:
barxatty [35]3 years ago
5 0
<h3>Answer:</h3>

$808.38

<h3>Explanation:</h3>

The formula for the payment amount (A) on principal P at interest rate r compounded monthly for a loan period of t years is ...

... A = P(r/12)/(1 -(1 +r/12)^(-12t))

For the main loan, the payment is ...

... A = 0.80·145000·(.0475/12)/(1 -(1 +.0475/12)^(-12·30)) = 605.11

For the piggyback loan, the payment is ...

... A = 0.20·145000·(.07525/12)/(1 -(1 +.07525/12)^(-12·30)) = 203.27

So, the total of monthly payments for the two loans is ...

... $605.11 +203.27 = $808.38

You might be interested in
John Tucker is interested in purchasing stock. He wants to determine the costs.
Delvig [45]

Answer: a0 =$97.5  ; a1 =$87.96 ; a2=$282.48; a3=$1,722.5 ; a4=$1,553.96 ; a5=$4,990.48

Step-by-step explanation:

Hi, to solve this problem we have to multiply each total by the commission in decimal form (6 / 100= 0.06).

So:

$1625 x 0.06 = $97.5

$1,466 x 0.06 =$87.96

$4,708 x 0.06 =$282.48

And finally, to obtain the total costs we have to add to each total the commission of the total.

$1625 + $97.5 = $1,722.5

$1,466 +$87.96 = $1,553.96

$4,708 +$282.48 = $4,990.48

Feel free to ask for more if it´s necessary or if you did not understand something.

8 0
3 years ago
Read 2 more answers
Determine an algebraic expression for the probability of each genotype in terms of p (the probability of inheriting D) and q (th
Gnoma [55]
Jfjfirnfijgojfjdjrifrorbodhduhehcbcjdbdjdjdbjdnkdjdnkjdksjsinjdbhdnisbhdnldbdudnoshusbdkdhujslalnzjsjdbdhdjdvdhr
4 0
3 years ago
Find the slope of the line that passes through (1, 15) (10, 8)
Sphinxa [80]

Answer:

m=-7/9

Step-by-step explanation:

5 0
3 years ago
Read 2 more answers
What is the length of RS.
Natali [406]

Consider, in ΔRPQ,

RP = R (Radius of larger circle)

PQ = r (radius of smaller circle)

We have to find, RQ, by Pythagoras theorem,

RP² = PQ²+RQ²

R² = r²+RQ²

RQ² = R²-r²

RQ = √(R²-r²

Now, as RQ & QS both are tangents of the smaller circle, their lengths must be equal. so, RS = 2 × RQ

RS = 2√(R²-r²)

5 0
3 years ago
A science class has 5 girls and 5 boys in the seventh grade and 3 girls and 5 boys in the eighth grade. The teacher randomly sel
alexgriva [62]
So the ratios are 5:5 and 3:5 so the fractions are 5/10 (1/2) for 7th grade and 5/8 for 8th grade
3 0
3 years ago
Read 2 more answers
Other questions:
  • Is the difference of two positive rational number always positive? Explain.
    7·2 answers
  • one bag holds 12 bolts. several bags filled with bolts are packed into a box and shipped to the factory The box contain a total
    8·2 answers
  • Is it possible for a composite number to have more than one prime factorization?
    10·1 answer
  • Please !!! Someone help me
    15·2 answers
  • Y=37x+11y=37x+11
    10·2 answers
  • A publishing company produces 15 books in 3 hours. How long would it take to produce 20 books at the same rate?
    14·2 answers
  • on a scale drawing a bookshelf is 8 inches tall.the scale factor is 1/8.what is the height of the bookshelf?
    8·1 answer
  • The sum of three consecutive numbers is 450. What is the 3rd number?
    11·1 answer
  • What is the product?<br> (y^2+3y+7][8y^2+y+1)
    14·1 answer
  • Tina painted 1/2 of a bedroom in 3/4 a day. How many days will it take dor Tina to paint one bedroom ​
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!