Answer:
Current monthly payment on their existing mortgage would be $1158.66
Step-by-step explanation:
Total cash value = $160,000
Down payment = 10% of 160,000
Down Payment = $16,000
Balance amount = 160,000 - 16,000 = $144,000
Monthly payment formula:
where,
PV is present value of home, PV=$144,000
r is rate per period ,
n is number of period, n=30x12 = 360
Monthly payment would be same for 30 years.
Thus, Current monthly payment on their existing mortgage would be $1158.66
Answer:
y = -3x - 6
General Formulas and Concepts:
<u>Pre-Algebra</u>
<u>Algebra I</u>
Slope Formula:
Slope-Intercept Form: y = mx + b
Step-by-step explanation:
<u>Step 1: Define</u>
<em>Find points from graph.</em>
x-intercept (-2, 0)
y-intercept (0, -6)
<u>Step 2: Find slope </u><em><u>m</u></em>
<u>Step 3: Redefine</u>
Slope <em>m</em> = -3
y-intercept <em>b</em> = -6
<u>Step 4: Write linear equation</u>
Slope-Intercept Form: y = -3x - 6
Answer:
so it is a rectangle with a perimeter of 30 units
