Answer:
x=0 ,y=3
if you have any questions about the way I solved it,don't hesitate to ask
First you do $60 divided by 4 which equals $15
Then you take 1% of 15 which is 0.15 and multiply thirty percent by that and subtract thirty percent from 100% and get 70% which is 10.5
It will be 0.0625 because you can use a calculator and do 14/224
Answer:
Size of each monthly payment = $161.69 per month
Step-by-step explanation:
Given:
Value of property = $20,000
Downpayment = 20%
Number of payment = 12 x 10 = 120
Interest rate = 4% = 4% / 12 = 0.33 %
Computation:
Loan balance = 20,000 - 20%
Loan balance = $16,000
A] Size of each monthly payment [In Excel]
Size of each monthly payment = PMT(0.33%,120,16000,0)
Size of each monthly payment = $161.69 per month
