1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
aivan3 [116]
3 years ago
10

Jason and Pam recently bought a house. They financed the house with a $250,000, 30-year mortgage with a nominal interest rate of

77% compounded monthly. Mortgage payments are made at the end of each month. What would be their house payment?
Mathematics
1 answer:
Annette [7]3 years ago
6 0

Answer:

Annual payument (PMT)= $1,663.19

Step-by-step explanation:

Giving the following information:

Loan (PV)= $250,000

Monthly interest rate (i)= 0.07/12= 0.005833

Number of periods (n)= 12*30= 360 months

<u>To calculate the monthly payment, we need to use the following formula:</u>

Annual payument (PMT)= (PV*i) / [1 - (1+i)^(-n)]

Annual payument (PMT)= (250,000*0.005833) / [1 - (1.005833^-360)]

Annual payument (PMT)= $1,663.19

You might be interested in
What is the awnser to this question
Alborosie

Answer is A and C because they equal to 3(10-c)

4 0
3 years ago
Special right triangles!!! Help
Archy [21]

Answer:

i think 40 meters

Step-by-step explanation:

i hope this helps

3 0
2 years ago
Read 2 more answers
Which diagram shows an angle bisector
maksim [4K]

B

if it is not correct sory

4 0
2 years ago
Read 2 more answers
Mid Topic 6 Assessment
sergey [27]
4(8x + 56) = 20
= 32x + 224 = 20

4 0
3 years ago
ANSWERED
kvv77 [185]

Answer:

c but you have it so thanks

Step-by-step explanation:

6 0
3 years ago
Other questions:
  • Quality control is an important issue at ACME Company, which manufactures light bulbs. Totest the life-hours of their light bulb
    5·2 answers
  • You are in line at an amusement park. You count 34 people in front of you. Each roller coaster fits 11 people. How many roller c
    13·1 answer
  • Finn changes his mind and, from now on, decides to take the normal route to work everyday. On any given day, the time (in minute
    10·1 answer
  • Factor completely 18x2 − 21x −15.
    13·2 answers
  • ILL GIVE BRAINLIST PLS:/which of the following statements about xy and xx is true ?
    10·2 answers
  • Identify and define the variable for the situation​
    8·1 answer
  • Who listens to A.J.R or Oliver Tree
    7·1 answer
  • Find the domain and range of the graph
    8·1 answer
  • Write down the complement 17,30​
    12·1 answer
  • If possible can someone help me with this problem.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!