Total cost of the house = $215,000
Amount financed through mortgage = $189,375
Amount paid through other means (such as cash) = 215,000-189,375 = $25,625
Rate = 6.1% = 0.061
Number of years = 15 years
Monthly payment, M = P[i(1+i/12)^12*15]/[(1+i/12)^12*15 -1] = 189,375[0.061/12(1+0.061/12)^12*15]/[(1+0.061/12)^12*15 - 1] = $1,608.30
Total amount paid = $25,625 + (M*12*15) = $25,625 + $289,494.56 = $315,119.56
Seems the options given don't match the correct answer.
The correct answer is Right triangle
Answer:
Equation: N = 2M, Shen needs to read 26 novels in 13 months
Step-by-step explanation:
Given : Shen needs to read 2 novels each month.
i.e. In One month , the number of novels read by Shen = 2
Let N be the number of novels Shen needs to read in M months.
Then , N = 2 M
Thus , the equation relating N to M : N = 2 M
If Number of months = 13 , then put M = 13 in the above equations , we get
N = 2(13) = 26
Hence, the number of novels he read in 13 months = 26.