Answer:
1. The monthly payment is $689.5
2. The total amount to be paid is
$224,580.
Step-by-step explanation:
Salsa and Corn Broom all reached an agreement upon the price of $197,000.
- The plan on making a 30 percent down payment. This implies that the will pay 0.3 × $197,000 = $59,100
This leaves them with
$197,000 - $59,100
= $137,900 to pay.
The plan on financing this remaining amount at 6 percent for 20 years.
This means they will pay
0.06 × $137,900 = $8,274 for 20 years. This translates to the payment of $8,274 × 20 = $165,480 across the 20 years.
1. The monthly payment is the yearly payment divided by 12.
Which is $8,274 ÷ 12 = $689.5
2. The total amount to be paid is
$165,480 + $59,100
= $224,580.
Answer:
7
Step-by-step explanation:
4-(-3)=
4+3=
7
Answer:
Yes
Step-by-step explanation:
I've done this before.
The correct option will be: d. 0.4%
For finding the periodic interest rate , we need to divide the annual interest rate by the number of times interest calculated in a year.
Here, the simple interest is calculated monthly, that means the number of times interest calculated in a year will be 12.
Annual interest rate is 4.8%
So, the periodic interest rate = 
%
