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nika2105 [10]
3 years ago
13

Suppose that you would like to buy a home priced at $200,000. You plan to make a payment of 10% of the purchase price and pay 1.

2% of the purchase price into an
escrow account annually.
a. Compute the total monthly payment and the total interest paid over the life of the loan for a 30-year mortgage at 4.8% annual interest.
b. Compute the total monthly payment and the total interest paid over the life of the loan for a 20-year mortgage at 4.8% annual interest.

Mathematics
1 answer:
Elina [12.6K]3 years ago
4 0

Answer:

  see below

Step-by-step explanation:

When you must do the same tedious calculation several times with different numbers, it is convenient to let a spreadsheet program do it for you. Here, the spreadsheet function PMT( ) computes the payment amount for the given interest rate, number of payments, and loan amount.

The loan amount is 90% of the purchase price.

The total interest over the life of the loan is the sum of the payments less the original loan amount.

The total monthly payment is the sum of the loan payment and the monthly escrow amount, which is 1/12 of the annual escrow amount.

_____

Here, we computed the total of payments using the unrounded "exact" value of each payment. We take this to be a better approximation of the total amount repaid, since the last payment always has an adjustment for any over- or under-payment due to rounding.

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483.6 is what percent of 180
liraira [26]

Answer:

We assume, that the number 180 is 100% - because it's the output value of the task.

2. We assume, that x is the value we are looking for.

3. If 100% equals 180, so we can write it down as 100%=180.

4. We know, that x% equals 483.6 of the output value, so we can write it down as x%=483.6.

5. Now we have two simple equations:

1) 100%=180

2) x%=483.6

where left sides of both of them have the same units, and both right sides have the same units, so we can do something like that:

100%/x%=180/483.6

6. Now we just have to solve the simple equation, and we will get the solution we are looking for.

7. Solution for 483.6 is what percent of 180

100%/x%=180/483.6

(100/x)*x=(180/483.6)*x       - we multiply both sides of the equation by x

100=0.37220843672457*x       - we divide both sides of the equation by (0.37220843672457) to get x

100/0.37220843672457=x

268.66666666667=x

x=268.66666666667

now we have:

483.6 is 268.66666666667% of 180

4 0
3 years ago
A television and DVD player cost a total of 1132. The cost of the television is three times the cost of the DVD player. What is
lubasha [3.4K]
Let x rep cost of dvd in $
so the cost of tv is 3x
and x + 3x = 1132
4x=1132
x=1132/4
x= 283 and 3x=3(283)=849
7 0
2 years ago
4/r ​ = 5/7 need help please
Annette [7]
The answer to the question is

5r= 28

r= 28/5
7 0
3 years ago
2 - 1 and 3/8 I don't know but I think it is 1 and 3/8 lol
Lubov Fominskaja [6]
Yea you are right it is right
5 0
3 years ago
Show how to work the division problem 47 divided by 8 please
Dvinal [7]

Answer:

Step-by-step explanation:

47 divided by 8

= 5.875

hope this helps

6 0
2 years ago
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