The monthly payment if we put 5% down for a 30-year loan with a fixed rate of 6.25% is (B) $2,605.87 (approx).
<h3>
What is a loan?</h3>
- A loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, or other entities in finance.
- The recipient (i.e., the borrower) incurs a debt and is typically required to pay interest on that debt until it is repaid, in addition to repaying the principal amount borrowed.
- The document evidencing the debt will typically include information such as the principal amount borrowed, the interest rate charged by the lender, and the date of repayment.
- A loan is the temporary reallocation of the subject assets between the lender and the borrower.
To find the monthly payment if we put 5% down for a 30-year loan with a fixed rate of 6.25%:
- The purchase price is = $445500
- 5% is down payment = 0.05 × 445500 = 22275
- Loan amount is = 445500 - 22275 = 423225
- The EMI formula is = [p × r (1+r)ⁿ]/[(1+r)ⁿ-1]
- p = 423225
- r = 6.25/12/100=0.0052
- n = 30 × 12 = 360
- Putting the values in the formula we get:
- [423225 × 0.0052 × (1.0052)³⁶⁰]/[(1.0052)³⁶⁰-1]
- = $2603.17
Therefore, the monthly payment if we put 5% down for a 30-year loan with a fixed rate of 6.25% is (B) $2,605.87 (approx).
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The correct question is given below:
If the purchase price for a house is $445,500, what is the monthly payment if you put 5% down for a 30-year loan with a fixed rate of 6.25%?
a. $2,740.19
b. $2,605.87
c. $1,314.84
d. $1,249.10
Answer:
Step-by-step explanation:
We are given that Point C is in the interior of ∠ABD
We are also given that ∠ABC ≅ ∠CBD
Now ,
Since we are given that ∠ABC ≅ ∠CBD
So, 
Hence
I think this is the right answers i am not sure tho
(0,16)
<span>y - 4 = -2(x - 6)
y - 4 = -2x + 12
y = -2x + 12 + 4
y = -2x + 16
and the y-intercept is (0,16) which lies on the line of </span><span>y - 4 = -2(x - 6). </span>
| 3x - 1 | + 7 = 2
| 3x - 1 | = 2 - 7
| 3x - 1 | = -5.....no solution because an absolute value cannot equal a negative number.
| 2x + 1 | + 4 = 3
| 2x + 1 | = 3 - 4
|2x + 1 | = -1...same thing...no solution..cannot equal a neg. number
so Eq. 1 and Eq. 2 both have NO SOLUTIONS :)
