Answer: I believe it would be 15.42
Step-by-step explanation:
I think the answer is 9.5 because that is the only number that can be multiplied by 4 that gives you 38.
(4,38) = y=9.5x
Answer:$728
Step-by-step explanation:
$156,000 less 20% is $124,800.
That is the amount that is being financed. If the rate is7% per year the first months interest is:
124,800*.07/12 = $728
You didn't ask but if the mortgage is like most conventional mortgages the 30 * 12 = 360 payments are all approximately equal, with less money expended on paying down the principal at first. Their equal payment would be: $830.30
