Have a great day as well! sending good vibes your way <3
Answer: The leg on the bottom is small than the leg on the right.
Step-by-step explanation: Right bro.
Amount of the mortgage after down payment is
160,000−160,000×0.2=128,000
Now use the formula of the present value of annuity ordinary to find the yearly payment
The formula is
Pv=pmt [(1-(1+r)^(-n))÷r]
Pv present value 128000
PMT yearly payment?
R interest rate 0.085
N time 25 years
Solve the formula for PMT
PMT=pv÷[(1-(1+r)^(-n))÷r]
PMT= 128,000÷((1−(1+0.085)^(
−25))÷(0.085))
=12,507.10 ....answer
I think 0.3 is less 7.85 because there is a 1 on the end that was is a 3 and if you round it would be 0
