3 years ago

According to the general equation for conditional probability, if P(An B9 =

Mathematics

1 answer:

ikadub [295]3 years ago

7 0

P is answer A .5/7 for ur question

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Michael obtains a 30/8 balloon mortgage to finance $425,500 at 6.55%. How much principal and interest will he have already paid

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Step-by-step explanation:

Step 1. Calculate the monthly payments on a 30-year loan.

The formula for the monthly payment (P) on a loan of A dollars that is paid back in equal monthly payments over n months, at an annual interest rate

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$P = A(\frac{r}{1-(1+r)^{-n}})$

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$P = 425 500(\frac{0.005 4853}{1-(1+0.005 4583)^{-360}})$

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