Seven years ago, Douglas purchased a $204,000 home with a 30-year

Mathematics

2 answers:

Stella [2.4K]3 years ago

8 0

Answer:

The new mortgage repayment is $10,580.69

Step-by-step explanation:

As at the time Douglas lost his job,he has already made repayments on the mortgage for a period of 7 years,by extending the repayment period by another 7 years,Douglas now have a period of repayment of 30 years now(30-7+7).

The new repayment yearly can be computed using the pmt formula in excel as given below:

=pmt(rate,nper,-pv,fv)

rate is the interest rate on mortgage given as 4.25%

nper is the period of repayment now 30 years

pv is the current of balance of $177,533.62

fv is the total amount repayable on the mortgage and it is not known hence taken as zero

=pmt(4.25%,30,-177533.62,0)=$10,580.69

katovenus [111]3 years ago

4 0

$873.36 APPPPEEEEEXXXX approved!

You might be interested in

If the sales tax is 7% on all purchases, how much should you set aside for $300. Show your work.

trasher [3.6K]

Answer:

$21

Step-by-step explanation:

7% = .07

$300 multiplied by .07 = $21

3 0

4 years ago

What's the best approximation for the area of a semi circle with a diameter of 11.8 feet?

IgorC [24]

11.8/2 = 5.9
5.9 squared is <span>34.81
34.81 multiplied by pi is </span>109.358840271

5 0

3 years ago

The height of a ball (in feet) after t seconds is given by the quadratic function h=-16(t-5)^2+116

Dmitriy789 [7]

Check the picture below, so pretty much reaches its maximum height at the vertex, now let's take a peek at the equation above hmmmm

$~~~~~~\textit{vertical parabola vertex form} \\\\ y=a(x- h)^2+ k\qquad \begin{cases} \stackrel{vertex}{(h,k)}\\\\ \stackrel{"a"~is~negative}{op ens~\cap}\qquad \stackrel{"a"~is~positive}{op ens~\cup} \end{cases} \\\\[-0.35em] ~\dotfill\\\\ h(t)=-16(t ~~ - ~~ \stackrel{h}{5})^2~~ + ~~\stackrel{k}{116}~\hfill \underset{maximum~height}{\stackrel{vertex}{(5~~,~~\underset{\uparrow }{116})}}$