lease = 502.00*12 = 6024.00
m2m = 615*12 = 7380
7380 - 6024 = 1356 difference
A very simple example problem to satisfy the required above is,
"John has 8 apples and 17 oranges. How much more oranges does John has than apple?"
To answer this item, one needs to subtract the number of apples from the number of oranges. This is as shown below,
D = 17 - 8 = 9
The concept of "how much more than" is linked to finding the difference between the numbers.
Answer:
The correct solution is "$1618.79".
Step-by-step explanation:
The given values are:
Home price,
= $300,000
Down payment,
= 10%
Mortgage,
= $270,000
Rate,
r = 6%
Time,
t = 30 years
As we know,
⇒ ![PV=P[\frac{1-(1+r)^{-n}}{r} ]](https://tex.z-dn.net/?f=PV%3DP%5B%5Cfrac%7B1-%281%2Br%29%5E%7B-n%7D%7D%7Br%7D%20%5D)
On substituting the values, we get
⇒ ![270 000= P[\frac{1-(1+\frac{6}{1200} )^{-12\times 30}}{\frac{6}{1200} } ]](https://tex.z-dn.net/?f=270%20000%3D%20P%5B%5Cfrac%7B1-%281%2B%5Cfrac%7B6%7D%7B1200%7D%20%29%5E%7B-12%5Ctimes%2030%7D%7D%7B%5Cfrac%7B6%7D%7B1200%7D%20%7D%20%5D)
⇒ 
($)
