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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

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For the straight line defined by the points (3, 59) and (5, 87), determine the slope and y-intercept. do not round the answers.
Margarita [4]
(3,59)(5,87)
slope = (87 - 59) / (5 - 3) = 28/2 = 14 <== ur slope

y = mx + b
slope(m) = 14
use either of ur points...(3,59)...x = 3 and y = 59
now we sub and find b, the y int
59 = 14(3) + b
59 = 42 + b
59 - 42 = b
17 = b <=== ur y int (0,17)
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3 years ago
Can someone help me plz
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a_sh-v [17]

Answer:

D.

Step-by-step explanation:

Hi there! You’re correct.

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I hope this helped! :)

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