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
aev [14]
3 years ago
13

Julio just bought a $267,900 house. He had a 20 year mortgage with a fixed rate of 5.875%. Julio's monthly payments are $1558.09

. What percent of the purchase price was Julio's down payment?
Mathematics
1 answer:
NNADVOKAT [17]3 years ago
4 0
First find the present value using the formula of the present value of an annuity ordinary.
The formula is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value?
PMT monthly payment 1558.09
R interest rate 0.05875
K compounded monthly 12 because the payment is monthly
N time 20 years
Pv=1,558.09×((1−(1+0.05875
÷12)^(−12×20))÷(0.05875÷12))
=219,684.92

Subtract the amount of the present value from the purchase price of the house to get the amount of the down payment
267,900−219,684.92=48,215.08

So the percent of the purchase price was Julio's down payment is
48,215.08÷267,900
=0.17997×100=17.997% round your answer to get 18%
You might be interested in
PLEASE HELP ME DO THIS
gladu [14]

Answer:

Perimeter = 8x

Step-by-step explanation:

If I can see correctly, the area of the squares are x². Area is just s², so we can find one side by finding the square root of x², which is x. Now that we know that x is one side, we can count the amount of sides and multiply that number by x.

There are 8 sides, so the answer is P = 8x

8 0
3 years ago
H(x) = 3x + 5<br> g(x) = 4x – 2<br> Find h(x) – g(x)
Flura [38]

Answer:

6

Step-by-step explanation:

seshhhhh is that dababy. he valid

8 0
3 years ago
In your own words, how do you create a residual plot that shows whether a linear model is an appropriate fit for the data?
tresset_1 [31]

Step-by-step explanation:

We need to understand what residual plot is?

A residual plot is a graph that shows the residuals on the vertical axis and the independent variable on the horizontal axis.

Hence, there are 2 cases related to the relation between residual plot and a linear model:

1. If the points in a residual plot are randomly dispersed around the horizontal axis => the linear model is an appropriate fit for the data

2. If the points in a residual plot has a pattern => nonlinear model is more appropriate or the line have a bad fit with the set of the data.

Hope it will find you well.  

8 0
3 years ago
Read 2 more answers
A movie theater charges $5 for an adult’s ticket and $2 for a child’s ticket. one saturday, the theater sold 785 tickets for $32
adelina 88 [10]

Answer:

Step-by-step explanation:

child tickets sold= 215  adult tickets sold= 570

3 0
3 years ago
8÷(3-1) _2 ×5-2<br>plssss help ​
Scilla [17]

Answer:

8

Step-by-step explanation:

You always start with the equasions in parenthesis. 3-1 is 2 and 8 divided by 2 is 4. Then you can move on to the next part of the eqasion. You start by subtracting 2 from 5 and then multiplying that by 2.then you add up the answers and you gat 8.

8 0
3 years ago
Other questions:
  • Help please. The question is...
    9·1 answer
  • If a square has an area of 81 square units how long is each side?
    5·1 answer
  • An 8-pack of juice boxes costs $5. How much do 32 juice boxes cost?
    6·2 answers
  • For the given decimal −0.009, find the two integers closest to it.
    15·1 answer
  • Y=f(x)=3x find f(x) when x=0
    14·1 answer
  • In ΔABC, a = 6.9 inches, b = 2.8 inches and ∠C=7°. Find the length of c, to the nearest 10th of an inch.
    9·1 answer
  • How many groups of 61 are in 10736? °Δ°
    8·1 answer
  • Find the length of the missing side. Leave your answer in simplest<br> radical form. *
    8·1 answer
  • How can translations help you<br> sketch the graph of f(x) = x2 + 8x + 16?
    13·1 answer
  • So i need help on these two..Please ill give brainliest!
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!