The applicable formula is
A = P(r/12)/(1 -(1+r/12)^(-12n))
where P is the principal amount,
r is the annual interest rate (compounded monthly), and
n is the number of years.
Using the formula, we find
A = 84,400*(0.04884/12)/(1 -(1+0.04884/12)^(-12*15))
= 84,400*0.00407/(1 -1.00407^-180)
= 343.508/0.518627
≈ 662.34
The monthly payment on a mortgage of $84,400 for 15 years at 4.884% will be
$662.34
Answer:
35
Step-by-step explanation:
40=1/2(115-x)
80=115-x
-35=-x
x=35
Answer:
Step-by-step explanation:
5.2
Hello there!
4x² = 100
We wanna start by dividing both sides by 4
4x²/4 = 100/4
x² = 25
Now we can take square root
x = +/-√25
x = 5 or x = -5
As always, it is my pleasure to help students like you!
Answer: 4/10
Step-by-step explanation:
