The answer to your question is 2250
$187,500 is cost of house. 20%, or $37,500 is the down payment. The loan amount would be $187,500 - $37,500 = $150,000. If we assume the annual rate of the loan is 4.65% Then the monthly rate would be 4.65%/12 = 0.3875% If the loan is $150,000, the interest is 0.3875% The interst for the first month is $150,000 * 0.3875% = $581.25. You stated that their payment is $1,575. So the amount that pays off the loan is $1,575 - $581.25 = $993.75. At the end of the month, they owe $150,000 - $993.75 = $149,006.25 For the second month, the amount of the payment that goes towards intrest is $149,006.25 * 0.3875% = $577.40. and the amount that goes towards the loan is $997.60. At the end of the second month they owe $148,008.65. Regarding realized income, we recommend a monthly loan payment not to exceed 28% of the monthly income. So if a payment of $1,575 is 28% of Gross, then the math is : $1,575 = 0.28*Gross. Gross = $5,625 monthly. About $67,500 annually. About $33.75 an hour.
Answer:
Value = 500000 × (1.1^n)
$1,296,871
Step-by-step explanation:
a = 500000
r = 550000 ÷ 500000 = 1.1
1st term is the initial year:
n years after that is the "n+1"th term
Value = 500000 × (1.1^n)
n = 10
500000(1.1¹⁰)
1,296,871.23005
I think it’s g(0)=0, g(1)=1, and g(-1)=1
