Listed price = $1.4 million
Down payment = 20% of $1.4 million = 0.2 x 1,400,000 = 280,000
Amount left to pay = $1.4 million - 280,000 = $1,120,000
Present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt) / r
where: PV = $1,120,000
r = 5% = 0.05
t = 12
n = 30 years.
1,120,000 = P(1 - (1 + 0.05/12)^-(12 x 30)) / 0.05
1,120,000 x 0.05 = P(1 - (1 + 1/240)^-360)
56,000 = P(1 - 0.2238)
P = 56,000 / 0.7761 = 72,148.83
Therefore, the monthly payment is $72,148.83
Answer:
thirteen sixteenths
Step-by-step explanation:
Three eighths plus seven sixteenths equals blank
3/8 + 7/16 = ?
= (2*3)+(1*7)/16
= (6+7)/16
= 13/16
13/16 is equivalent to thirteen sixteenths
Answer:
Step-by-step explanation:
The circumference of a circle is given by 
, where 
is the radius of the circle.
What we're given:
of 31.4
Solving for :
Answer:
Step-by-step explanation:
Multiplier: -175/3 Decrease: 23⅓ %
Step-by-step explanation: 75 = 250 - 3(d) d = -175/3 Y = 250 - (175/3)m
Where m is the no.
of months Y is the new value
(175/3)/250 × 100 = 70/3 %
Or 23⅓ %
