A couple purchases a house for $400,000.00. They pay 20% down at closing, and take out a mortgage of $320,000.00. The mortgage company offers them a 4.80% annual rate with monthly compounding. The mortgage will require monthly payments for the next 30 years.
What will be the monthly payment on this mortgage?
Answer:
$ 1678.91
Explanation:
Given that;
Cost of purchasing a house = $400,000.00
Down payment =20%
Mortgage Value (MV) = $320,000.00
Annual rate offered by the mortgage company = 4.80% yearly i.e 0.4 per month
Duration of the Mortgage Loan (n) = 30 years which is equivalent to 360 months.
if we represent the monthly repayment with MR ,To calculate the monthly repayment MR;we have;
MV = MR × ![(\frac{1}{i})*[1-(\frac{1}{(1+i)^{n}} )}]](https://tex.z-dn.net/?f=%28%5Cfrac%7B1%7D%7Bi%7D%29%2A%5B1-%28%5Cfrac%7B1%7D%7B%281%2Bi%29%5E%7Bn%7D%7D%20%29%7D%5D)
where i = 0.004 (4.8 % annually expressed as 0.48, divided by 12 monthly payments per year)
∴
=
![*(\frac{1}{0.004})*[1-(\frac{1}{1+0.004)^{360}}})]](https://tex.z-dn.net/?f=%2A%28%5Cfrac%7B1%7D%7B0.004%7D%29%2A%5B1-%28%5Cfrac%7B1%7D%7B1%2B0.004%29%5E%7B360%7D%7D%7D%29%5D)
320,000.00 = MR × 190.60
Monthly repayment (MR) = $ 1678.90870933
Monthly repayment (MR) ≅ $ 1678.91
A. Protons circle the nucleus of an atom.
This isn't true because protons are found in the nucleus.
This is so as the liquid you are heating is copper (II) sulfate (I think so) so when you heat it to saturation, there will still be some water molecules left behind, which will allow copper (II) sulfate crystals to be formed since there is water of crystallisation. so the formula is (CuSO4.5H2O).
Hence, if you heat it for a longer period of time when all the water has evaporated, you will obtain a white powder (CuSO4) as crystals cannot form without water of crystallisation
Answer:
it's more flexible that way
Explanation:
there is more oxygen to let it catch fire
Answer:
Covalent bonds
Explanation:
A water molecule consists of two atoms of hydrogen linked by covalent bonds to the same atom of oxygen. Atoms of oxygen are electronegative and attract the shared electrons in their covalent bonds.