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
Scilla [17]
3 years ago
11

Suppose the Bainters purchase the $150,000.00 home with a 20% down payment, a 30-year mortgage, and an interest rate of 4.2%. An

nual property taxes are $1920.00. Home insurance is $750.00 per year, which is to be placed into an escrow account.
What is the Bainters' monthly cost if they purchase the home?
Mathematics
1 answer:
Elden [556K]3 years ago
7 0

Answer:

  $809.32

Step-by-step explanation:

The loan amount is 80% of $150,000, or $120,000. The monthly payment of principal and interest is $586.82.

The total annual expense for taxes and insurance is $1920 +750 = $2670, so the monthly expense is $2670/12 = $222.50.

Then the total of payments for mortgage and escrow will be ...

  $586.82 +222.50 = $809.32

__

The monthly P&I payment is given by ...

  A = P(i/12)/(1 -(1 +i/12)^(-12t)) . . . . . where i is the annual interest rate, t is the number of years, and P is the amount financed.

  A = $120,000(0.042/12)/(1 -(1 +0.042/12)^(-12·30)) ≈ $586.82

__

A spreadsheet or financial calculator can be useful for calculating payments, though the formula isn't difficult to use.

You might be interested in
I dont know how to do this so hElp
STALIN [3.7K]

Answer:

3.5× c20

#######################

7 0
2 years ago
Read 2 more answers
You placed a 12% down payment on a new home. Given that the amount of the down payment was $42,655.12, determine the price of th
Soloha48 [4]

Answer:

355,459.33

Step-by-step explanation:

42,655.12/12 = 3554.59

3554.59*100 = 355459.33

7 0
3 years ago
Read 2 more answers
Using the graph, determine the coordinates of the vertex of the parabola.
nadezda [96]

Answer:

The coordinates of the vertex is (6,4).

Step-by-step explanation:

The vertex is the highest or lowest point on the parabola (curved line).

6 0
2 years ago
(2*2)^2-(3+(2*2)/(6-4) EXPLAINED PLEASE
Eva8 [605]

PEMDAS is an acronym that refers to the sequence of operations to be employed when solving equations with multiple operations. The solution of the given expression (2×2)² - [3+(2×2)]/(6-4) is 14.

<h3>What is PEMDAS?</h3>

PEMDAS is an acronym that refers to the sequence of operations to be employed when solving equations with multiple operations. PEMDAS is an acronym that stands for P-Parenthesis, E-Exponents, M-Multiplication, D-Division, A-Addition, and S-Subtraction.

As per the rule of PEMDAS, the given expression can be simplified as shown below.

(2×2)² - [3+(2×2)]/(6-4)

Step 1: Solving Parenthesis,

= 4² - (3+4) / (2)

= 4² - 4/2

Step 2: Solving exponents,

= 16 - 4/2

Step 3: Solving Divisions,

= 16 - 2

Step 4: Solving Subtraction,

= 14

Hence, the solution of the given expression (2×2)² - [3+(2×2)]/(6-4) is 14.

Learn more about PEMDAS here:

brainly.com/question/36185

#SPJ1

6 0
1 year ago
The sum of a number and 9 is multiplied by -2 and the answer is -8
nadya68 [22]
9(-2)+x=-8
And x would be positive 26
7 0
3 years ago
Other questions:
  • Help me out. Can you help me out, please? worth 10 points good bargain.
    8·1 answer
  • Can you help match the correct graph with this equation -0.2x-0.6y=0.12
    12·1 answer
  • Which equation in slope-intercept form represents the line that passes through (5,11) and (-4,7)
    8·2 answers
  • 3y-6+7y-4y i need help
    14·2 answers
  • The hypotenuse of a right triangle is three times the length of its first leg. The length of the other leg is four feet. Find th
    12·1 answer
  • Need the answer asap!! thank you!!!
    7·1 answer
  • Help plz geometry ASAP
    5·1 answer
  • Solve for x.<br> -3x + 4 = -2x + 0<br> A 4<br> B 0.25<br> С -4<br> D -0.25
    12·2 answers
  • Need help ASAP! i will give brainliest :)
    9·2 answers
  • A new section of freeway will be
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!