Answer:
599
Step-by-step explanation:
you have to add and substract is easy
what do you need to find?
Answer:
80/20 mortgage by $37.25
Step-by-step explanation:
<u>First mortgage</u>
0.8 × 145000 = 116000 PMT <em>multiply both of them</em>
= 116000(.0475/12) / [1 - (1 + .0475/12)^(-12 * 30)] PMT = 605.11
The 2nd Mortgage 0.2 × 145000 = 29000
2nd mortgages are normally only interest payments
I = 29000(.07525/12) I = $181.85 <em>divide the interests by the denominator</em>
605.11 + 181.85 = 786.96
<u>Second Mortgage</u>
PMT = 145000(.0525/12) / [1 - (1 + .0525/12)^(-12 * 30)] <em>divide the mortage</em>
PMT = 800.70
800.7 + 58.3 = 859.00
Therefore, the 80/20 mortgage is lower by $37.25¢
2/3 x4 = 8/12
therefore,
They will need 8/12 cup oil
