Amount of the mortgage after down payment is
160,000−160,000×0.2=128,000
Now use the formula of the present value of annuity ordinary to find the yearly payment
The formula is
Pv=pmt [(1-(1+r)^(-n))÷r]
Pv present value 128000
PMT yearly payment?
R interest rate 0.085
N time 25 years
Solve the formula for PMT
PMT=pv÷[(1-(1+r)^(-n))÷r]
PMT= 128,000÷((1−(1+0.085)^(
−25))÷(0.085))
=12,507.10 ....answer
Answer: The answer is 0.2
Step-by-step explanation: 2.4g / 12 minutes
0.2g/minutes
You need use your strategies multiplie it than simplify to k and than move it to E tens
