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AVprozaik [17]
3 years ago
5

Rebecca and Tom Payton have decided to buy a home that costs $200,000. The Paytons can put down 20% of the home's price. They ha

ve applied for a 15-year, 9% FRM to finance the balance. They Paytons have a combined gross annual income of $70,000. Answer the following questions about the Payton's decision.
What is the maximum amount the Paytons should pay each month, according to the 28% rule given in the Background Information in Day 1 of Project 2?
Mathematics
1 answer:
disa [49]3 years ago
4 0
M = P * i (1+i)^n / ((1+i)^n − 1)

where:
M = Mortgage payment
P = Principal amount = $200,000 * 0.80 = $160,000
i = interest rate = 0.09/12 = 0.0075
n = number of payments = 12*15 = 180
M = $160,000 * 0.0075 * 1.0075^180 / (1.0075^180 − 1)
M = $1622.8265
Total paid = 180 * $1622.8365 = $292,108.77
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Using it's concept, it is found that the odds that the winner shops in the store 4 or more times a week are given by: 9:41.

<h3>What is the odd of an event?</h3>

It is given by the <u>number of desired outcomes divided by the number of non-desired outcomes</u>.

Researching the problem on the internet, it is found that 18% of the winners shop in the store 4 or more times a week, while 82% do not, hence:

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The odds that the winner shops in the store 4 or more times a week are given by: 9:41.

More can be learned about odds at brainly.com/question/25683609

3 0
1 year ago
Jim charges $150 plus $60 per hour to move furniture. The equation below represents the
Sladkaya [172]

Answer:

the equation is corrent  if that what your asking

Step-by-step explanation:

8 0
3 years ago
Find C, the total of the payments, and the monthly payment. Choose the correct answers. 2yc Interest(n) = m(n+1)
vivado [14]

Answer:

"$66.5

Step-by-step explanation:

The cost, including tax, amounts to $850.00.

Down payment =$150

Amount after paying down payment = $850-$150=$700

Interest rate = 14 %

So, interest on $700 =

So, c = $98

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Now Joe finances the grill over 12 months

So, no. of payments = 12

Now Monthly payment = Total of payments ÷ number of payments

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                                      =$66.5

Hence Joe's monthly payments (principal plus interest) is $ 66.5" i quoted so give the other person brainliest!

Step-by-step explanation:

8 0
2 years ago
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NemiM [27]
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3 years ago
356-45= ????????????????​
BlackZzzverrR [31]

Answer:

311

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Step-by-step explanation:

5 0
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