Basically the answer is 6, if you'd like an explanation, let me know. :)
<span> An </span>equation<span> is a mathematical statement that shows the equal value of two expressions while an </span>inequality is a mathematical statement that shows that an expression is lesser than or more than the other. "<span>An 18-wheel truck stops at a weigh station before passing over a bridge. The weight limit on the bridge is 65,000 pounds. The cab (front) of the truck weighs 20,000 pounds, and the trailer (back) of the truck weighs 12,000 pounds when empty. In pounds, how much cargo can the truck carry and still be allowed to cross the bridge?" does this help?</span>
Answer:..
Step-by-step explanation:
...
Answer:
$1166.08 is the monthly payment for the mortgage per month.
Step-by-step explanation:
The meaning of this stated formula on the statement is the present annuity formula because we will have future monthly payments on the mortgage of the house in which they pay off the present value of the house which is $240000 x 80% = $ 192000 as this amount will excludes the down payment of 20% that is made.
We are given Pv the present value which excludes the down payment $192000.
We have the interest rate i which is 1.2%/12 as it is compounded monthly.
n is the number of payments made over a period which is 12 x 15 years= 180 payments as it is compounded monthly.
no we substitute the above mentioned information to the present value annuity formula stated to calculate R the monthly payment:
Pv = R[(1-(1+i)^-n)/i]
$192000 = R[(1-(1+(1.2%/12))^-180)/ (1.2%/12)] divide both sides by the coefficient of R
$192000/[(1-(1+(1.2%/12))^-180)/(1.2%/12)] = R
$1166.08 =R which this is the amount that will be paid for the mortgage every month for 15 years.
