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mrs_skeptik [129]
3 years ago
10

I need help can someone please help me to understand this

Mathematics
1 answer:
krek1111 [17]3 years ago
5 0
I'm not sure but I think that he had $240 in his savings account. I not sure if the method I used is correct so look at someone else's answer if they have a different amount of money.
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A house is being purchased at the price of $138,000.00. The 30-year mortgage has a 10% down payment at an interest rate of 4.875
Mama L [17]

Answer:

  $238,600

Step-by-step explanation:

The amount being borrowed is 100% -10% = 90% of the purchase price, or ...

  0.90 × $138,000 = $124,200.

Then the monthly payment can be computed using the amortization formula:

  A = P(r/12)/(1 -(1 +r/12)^(-12t))

  A = 124200(.04875/12)/(1 -(1 +.04875/12)^(-12·30)) ≈ 657.28

and the total repaid is ...

  (360 months) × ($657.28/month) = $236,619.58*

The cost of mortgage insurance is considered part of the cost of the loan. That amount is ...

  (77 months) × ($25.88/month) = $1992.76

so the total amount paid for the loan is ...

  $236,619.58 +1992.76 = $238,612.34

The cost of the loan is about $238,600.

_____

* In figuring the total repayment cost, we used the full-precision value for the loan payment. The actual repayment amount will depend on the rounded value of the loan payment and the way the final payment is made. When rounded to the nearest $100, these details become unimportant.

3 0
3 years ago
Find the distance between the two numbers on a number line. Write your answer as a decimal.
dangina [55]

Answer:

-0.574

Step-by-step explanation:

Subtract the two numbers to get the solution

7 0
3 years ago
What is the product of 8/6 and 5/10 in simplest radical form?
Gre4nikov [31]
The answer is 8/3 but if your simplifying then the answer is 2 2/3 and if you want it in decimal form then the answer is 2.6 :)
4 0
3 years ago
Determine the slope and y-intercept of the line: y=-4x
lapo4ka [179]
Equation y=-4x
m=-4. Slope is -4 y-intercept is 0

y-12=2(x-1)
y-12=2x-2
y=2x-2+12
y=2x+10
7 0
2 years ago
I need help please and thank you
Thepotemich [5.8K]
By solving 1 & 2
no solution.
4 0
3 years ago
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