Answer:
Step-by-step explanation:
IT IS TWELVE............ 12
c
log2-log 6=log(2/6)=log (1/3)
185
1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,2021.22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40
I give up
9514 1404 393
a. $3,455.20
The monthly payment is given by the amortization formula:
A = P(r/12)/(1 -(1 +r/12)^(-12t))
for loan amount P at annual rate r for t years.
For this mortgage, we use P = $530,000, r = 0.068, t = 30.
A = $530,000(0.068/12)/(1 -(1 +0.068/12)^(-360)) ≈ $3,455.20
The monthly payment is $3,455.20.
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<em>Additional comment</em>
In 7 years, the balloon payment will be $481,559.91.
arbys
we have the meats
