6. Monthly Mortgage payments can be found using the formula Below:

M-PG2)(1+1)"

(1+12"-1

M = monthly payment

P = amount borrowed

r=annual interest rate

n = number of monthly payments

The Ranallo family just bought a house. They qualified for an annual interest rate of 5.2% and their monthly payment

was $800 for a 30 year mortgage. Algebraically determine the amount of their loan to buy the house.

Answers

Answer 1

Answer:  your equation is poorly written/wrong hence I used the equation below

answer :  $289156.63

Step-by-step explanation:

applying the formula to calculate monthly repayment of Mortgage

M = P [ r(1+r)^n / ( ( 1+r )^n ) -1 ) ]  -----  ( 1 )

M = Total monthly payment = 800 * 12 * 30 = $ 288,000

P = ?

r = 5.2% / 12 = 0.4%

n = 30 * 12 = 360 months

Back to equation 1

P = M / [ r(1+r)^n / ( ( 1+r )^n ) -1 ) ]

   = 288000 / [ 0.004 ( 1.004)^360 / (( 1.004)^360 ) - 1 ) ]

   = 288,000 / -0.996  =  - $289156.63 ( It has a negative value because It is a loan borrowed )


Related Questions

Suppose the TRMS basketball team scored 78 points by 2-point and 3-point baskets only. If 35 total baskets were made, how many 2-point and 3-point baskets were scored?

Answers

Answer:

the number of 2 point and number of 3 point be 27 and 8 respectively

Step-by-step explanation:

Let us assume the number of 2 point be x

And, the number of 3 point be y

Now according to the question

2x + 3y = 78

x + y = 35

Multiply by 2 in equation (2)

2x + 3y = 78

2x + 2y = 70

y = 8

So,

x = 35 - 8

= 27

Hence, the number of 2 point and number of 3 point be 27 and 8 respectively

please i really need help. dont spam i just really need help

Answers

Answer:

440 square miles would be the answer :)

Step-by-step explanation:

Maggie has exactly 20$ to buy decorations for the dance. Streamers cost 2$ per roll and balloons are 1.50$ per package. Which set of purchases is closest to her budget??

Answers

Answer:

675esa  espuesatr

Step-by-step explanation:

((−34)5)2 help me I'm confused AAAAAAAAAAAAAAAAAAAA

Answers

Answer:

340

Step-by-step explanation:

((-34)5)2

(-170)2

340

What’s the answer ? Please help

Answers

Answer:

C.

Step-by-step explanation:

please help! i'll give brainliest! no one would help me PLEASE.

Answers

Answer:

m∠ABC = 42°

Step-by-step explanation:

5x + 13 + 3x + 33 = 70

8x + 46 = 70

8x = 24

x = 3

m∠ABC = 3(3) + 33 = 42

What is the residual of a customer with a height of 155 cm who rents a bike with a 51 cm frame?

cm

Answers

Answer:

Step-by-step explanation:

What is the residual of a customer with a height of 155 cm who rents a bike with a 51 cm frame?

cm

Answer:

Step-by-step explanation:

-1

NEED ASAP Which line is parallel to the line y=4x-2?

Answers

Answer:

y = 4x + 1

Step-by-step explanation:

Given the equation y = 4x - 2, we need to find the equation parallel to this line. Note that for two equations to be parallel to each other, the must have the same slope

Standard form of an equation is y = mx + b

Compare;

mx = 4x

m = 4

Since the slope of the given equation is 4, the required equation must also have a slope of 4

Since we are not given an option, we can assume any equation with a slope of 4

y = 4x + 1 will be parallel to the given equation since they both have the same slope

Note that the equation can be different so far they have the slope of 4

The area of a rectangular patio is 3x2 + 17x + 20 ft
Which of the following could be dimensions of the patio?
O A. X+ 5 ft by 3x + 4 ft
B. 3x + 5 ft by x + 4 ft
O
C. X + 5 ft by x + 4 ft
O D. 3x + 5 ft by 3x + 4 ft

Answers

Answer:

a

Step-by-step explanation:

Factor out the Greatest Common Factor (GCF): 36y - 16 ?

Answers

Answer: 4(9y-4)

Step-by-step explanation:

36y - 16

4 x 9 is 36

4(9 is just like 36y.

Please help I'll mark brainliest

Answers

Answer:

y= 3x +2

Step-by-step explanation:

-10x-30y = 6

-30y = 10x +6

y = -1/3x - 1/5

m = -1/3 perpendicular slope would be 3

2x+9y = 18

2(0) +9y = 18

y = 2 = y intercept

y = 3x +2

Vincent has a box of popsicles. There are 12 cherry, grape 10 orange, and 6 blue raspberry If he reaches in the box and pulls one out at random, what the probability it will be blue raspberry?

Answers

Answer:

6:28 or 3:14

Step-by-step explanation:

if you add all the flavor amounts up, which is 12 + 10 + 6, you get 28. 6 of those 28 popsicles are blue raspberry, so the ratio is 6:28. if it needs to be simplified, its 3:14 because 6/2 is 3 and 28/2 is 14

Answer:

6:28 if you add all Popsicles it gives you 28,so the probability that he will pick raspberry are 6 ,so if you simplyfy further its 3:14

what is 22% of 64.82

Answers

Answer:

14.2604

Step-by-step explanation:

this is because 22% as a decimal would be 0.22, and since this is out of 64.82, you have to multiply 0.22 by 68.82

\\

Hope this helps <33

Answer:

14.2604

Step-by-step explanation:

[tex]64.82*.22=14.2604[/tex]

What is the approximate value of
3

35
?

Answers

Answer:

17.7

Step-by-step explanation:

Use a calculator.  Enter 3 and then √35.  The calculator should return

17.748.  Round this off to 17.7.

Answer:

17. 7 is the answer.

Step-by-step explanation:

#CarryOnLearning

how do you solve for x

the similarity statement is abc~ xyz​

Answers

Answer:

m<X= 36.87 degrees

Step-by-step explanation:

Since the triangle abc and xyz are similar, hence;

m<C = m<Y

90 = x - 5

Add 5 to both sides

90+5 = x-5+5

95 = x

Swap

x = 95

m<Y = x - 5

m<Y = 95 - 5

m<Y = 90

Find m<X

Using the SOH CAH TOA

Opposite to m<X = YZ = 6

Adjacent = 8

Tan M<X = opp/adj

Tan m<X = 6/8

m<X = arctan(6/8)

m<X= 36.87 degrees

What is the slope of the line?
hurryyyy

Answers

Answer:

slope = 3

Step-by-step explanation:

if each square is equal to 1

The slope has to be 3.

you can see it, because between those 2 point you can count 3 spaces in y-vertex, and 1 space in x-vertex

what that means is that we will move 3 steps up (or down) for each 1 space in x-vertex.

you can see it just right there on the graph

What is the answer for, A metal bar 8.15 ounces 93% of the bar is sliver. How many ounces of silver are in the bar? ( round to the nearest thousandth)?

Answers

Answer:

7.580 ounces

Step-by-step explanation:

The question is asking how many ounces of silver are in the bar. We know that 93% of the bar is silver. The bar is 8.15 ounces. This means we need to find 93% of 8.15. Let's set up an equation.

93% of 8.15

93/100 • 8.15

0.93 • 8.15

= 7.5795

Round to the nearest thousandth.

7.580 ounces

Hope this helps!

A line with a slope of 5 passes through the point (1,9). What is its equation in slope-intercept form? Write your answer using integers, proper fractions, and improper fractions in simplest form.​

Answers

Answer:

y = 5x + 4

Step-by-step explanation:

The equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

Here m = 5, then

y = 5x + c ← is the partial equation

To find c substitute (1, 9) into the partial equation

9 = 5 + c ⇒ c = 9 - 5 = 4

y = 5x + 4 ← equation of line

Please please help this is algebra:(

Answers

Answer:
X1=2,x2=6
Instructions:
Make sure you put the 1 and 2 underneath the x’s

Find the output y when the input x is -5
y=?

Answers

Answer: y=7

Step-by-step explanation: looking at the graph when x is -5 y= 7

PLS HELP
A jewelry company purchases a necklace for $24. If they mark it up 36% to sell it at their store, what is the selling price of the necklace? (If necessary, round to the hundredths)

Answers

Answer:

I believe the answer would be 32.64

Step-by-step explanation:

$24 x 36% = 8.64

8.64 + 24 = $32.64

Claudia works at a sweet shop making chocolate-dipped bananas. Sometimes she drops the chocolate-
dipped bananas before she can get them to the freezer. Claudia earns 20 cents for every frozen banana that
she makes. She loses 5 cents for each frozen banana that she drops. Last Wednesday, Claudia dipped 48
frozen bananas, but not all of them made it to the freezer. She earned a total of $7.60. How many bananas
were dropped and how many made it to the freezer? Define your variables and write a system of
equations representing this situation. Solve the system by using either graphing, substitution, or
elimination.

Answers

Here is the work i did for it!

Markale sold his house for 175,000. If there is a 7% sales tax, how much money did he pay taxes

Answers

Answer:

12250

Step-by-step explanation:

Where will the two lines intersect? y=2x+1 and y=-2x+5

Answers

Answer:

(1, 3)

Step-by-step explanation:

(1,3) is the answer

Pls answer this I will give 10 points and brainlest for 4 to 6 answers

Answers

Answer:

wheres the question

Step-by-step explanation:

f(x) = 3 and g(x) = -2x + 5
Find f(x) * g(x)

Answers

Answer: -6x + 15

Step-by-step explanation:

f (x) = 3

g (x) = -2x + 5

3 (-2x+5)

= -6x +15

HELP!

Eric bought 16 ounces of coffee beans for
$14.40. At this rate, how much would 11 ounces
of coffee beans cost?

Answers

Answer:

11 ounces cost 9.90$.  

Step-by-step explanation:

Each ounce cost .90 cents.

Hope this helped!

Lucy's dog lost 6 pound How much weight does her dog need to gain in order to a net change of 0 pounds? _pounds?

Answers

Answer:

I think 6 pound. Beacuse 6-6=0

please please help me
(the number in the photo is 20 and then the letter is x)

(also if you can pls go to my profile and answer the question underneath this one)

Answers

Answer:

20°

Step-by-step explanation:

for alternate angles

Answer:

angle x= 20°

I hope it's helps you


I have found the area but I'm not sure how to find the perimeter.

Answers

Answer:

20+20+24+24=88

88/2=44

88+44=132

Step-by-step explanation:

If you split it so there is a rectangle and a triangle, you find the perimeter of the rectangle then divide it in half.

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