Calculate the monthly payments for a home mortgage of $98,000 with a fixed APR of 6.25% for 30 years.
1 answer:
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For a quadratic of the form 
, we have the quadratic formula
,
where a is the coefficient (number before the variable) of the squared term, b is the coefficient of the linear term, and c is the constant term.
So, given
, we can get that 
, and 
. We substitute these numbers into the quadratic formula above.
This is our final answer.
If you've never seen the quadratic formula, you can derive it by completing the square for the general form of a quadratic. Note that the
symbol (read: plus or minus) represents the two possible distinct solutions, except for zero under the radical, which gives only one solution.
where a is the coefficient (number before the variable) of the squared term, b is the coefficient of the linear term, and c is the constant term.
So, given
This is our final answer.
If you've never seen the quadratic formula, you can derive it by completing the square for the general form of a quadratic. Note that the