Somebody else had asked this question and they said it was 35 so your best bet is to go with 35
The monthly amortization is P23,511.63
<h2>Compound interest</h2>
The formula for calculating the compound interest is expressed as:
whrere:
- P is the principal = P700,000
- r is the rate = 12% = 0.12
- t is the time = 4 years
- n = 12
Substitute the parameters
Calculate the monthly payment:
Monthly payment =
Hence the monthly amortization is P23,511.63
Learn more on compound interest here: brainly.com/question/24924853
Range is the set of possible output values of a function. In this case, it’s (-9, -3, 0, 5, 7).
Answer:
$1,700
Step-by-step explanation:
Given the following :
Period of mortgage = 25 years
Mortgage amount = $130,000
Total interest on mortgage = $380,000
Hence,
Total amount to be paid ( principal + interest) :
($130,000 + $380,000) = $510,000
Total number of months over the 25 years period:
25 × 12 = 300 months
Payment per month:
Total repayment / number of months
= $510,000 / 300
= $1,700 per month