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
ipn [44]
3 years ago
15

Troy took out an 80/20 mortgage to buy a house costing $100,000. The first (80%) mortgage has an interest rate of 4.75%, The sec

ond (20%) mortgage has an interest rate of 7.525%. Both the first mortgage and the second mortgage are 30-year fixed-rate mortgages.
What is his total mortgage payment for this house?
Mathematics
1 answer:
tekilochka [14]3 years ago
7 0

Answer:

  $557.51

Step-by-step explanation:

A financial calculator tells you the payments are ...

  on $80,000 at 4.75%: $417.32

  on $20,000 at 7.525%: $140.19

Then the total monthly payment is ...

  $417.32 +140.19 = $557.51

_____

You can use the amortization formula to find the payment (A) on principal P at interest rate r for t years to be ...

  A = P(r/12)/(1 -(1+r/12)^(-12t))

I find it takes fewer keystrokes to enter the numbers into a financial calculator. Both give the same result.

You might be interested in
Identify four over five as proper, improper or mixed
Wittaler [7]
Proper because improper would be 6 over 5 and mixes would be 1 and 1 over 6
8 0
3 years ago
Read 2 more answers
jennifer has started a blog and is using the bar chart below to keep track of how many followers she has, how many followers wil
Whitepunk [10]
If she is starting on day 1 with 0 followers and advances up 2 followers every day, by day "n" she would have 28 followers.
8 0
3 years ago
How to solve:<br> 8(2)-4<br>________<br>8÷4 ?
MissTica
So the first thing you do is dove the equations. Let's do the numerator equation. 8(2)-4 is simply saying 8•2-4 and i don't know if u learned this in class yet but you do multiplication and division before addition and subtraction so 8•2=16-4=12 so now 12 is our numerator. Now for the denominator, 8/4=2 so 2 is our denominator. We have 12/2 but it can be simplified to 6 because 6 goes into 12 twice and u cans check this by doing 6•2=12
Hope this helps m8 :))
6 0
3 years ago
Read 2 more answers
Simplify<br> 6x^3y^9/36x^3y^-2
AnnZ [28]
6x^3y^9/36x^3y^-2  The x^3 values cancel each other out leaving the 1/6
(1/6)y^9/(y^-2)  the y^-2 causes the y^9 to turn into y^11 (9+2=11)
 (1/6)y^11/1     the 1/6 is multiplied by y^11
y^11/6
5 0
3 years ago
ㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤ
Diano4ka-milaya [45]

Answer:

ty??????????????????

3 0
3 years ago
Read 2 more answers
Other questions:
  • The slope-intercept form of a linear equation is y = mx + b, where x and y are coordinates of an ordered pair, m is the slope of
    14·1 answer
  • If kaitlyn goes to the store, the probability that she buys blueberries is 90%. the probability of her going to the store is 30%
    6·1 answer
  • If a transversal intersects two parallel lines, then blank angles are supplementary.
    14·2 answers
  • A farmer wants to transport 100 cows to another farm. Each truck can carry 7cows. He has 10 trucks . How many more trucks does h
    14·2 answers
  • I really need help with this and how find the Surface area and Lateral area and what is the length and width for both of the fig
    11·1 answer
  • Can somebody plz help answer all these questions correctly!! (Only if u know or remember how to do this) lol thanks!!!
    15·2 answers
  • what is the base price for the cell phone plan, regardless of how many minutes are included? What is the cost per minute? Explai
    8·1 answer
  • Need help will mark Brainliest no explanation needed
    5·1 answer
  • Using identity, evaluate 94 x 106,
    13·1 answer
  • Please find α/beta. EXPLAIN all the steps and use a trigonometric function.(give the value, explain and show all steps with a se
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!