a family buys a new home for $212,500 and pays a 20% down payment ($42,500). if the mortgage is for 15 years at 5.75% interest which is their monthly house payment

Answers

Answer 1

Answer:

Their monthly house payment is of $2,184.65.

Step-by-step explanation:

Compound interest:

The compound interest formula is given by:

[tex]A(t) = P(1 + \frac{r}{n})^{nt}[/tex]

Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.

A family buys a new home for $212,500 and pays a 20% down payment ($42,500).

This means that the loan is of 212,500 - 42,500 = $170,000, that is, [tex]P = 170,000[/tex]

Value of the loan in 15 years:

15 years means that [tex]t = 15[/tex]

5.75% interest means that [tex]r = 0.0575[/tex]

Compounded yearly, so [tex]n = 1[/tex]

Then

[tex]A(t) = P(1 + \frac{r}{n})^{nt}[/tex]

[tex]A(15) = 170000(1 + \frac{0.0575}{1})^{15}[/tex]

[tex]A(15) = 393237[/tex]

Monthly payment:

Total of $393,237 in 15*12 months. So

[tex]M = \frac{393237}{15*12} = 2184.65[/tex]

Their monthly house payment is of $2,184.65.


Related Questions

Find the value of x that makes the quadrilateral a parallelogram?

Answers

Answer:

5

Step-by-step explanation:

since the sides of parallelogram are parallel

then 3X+3 = 4X-2 (they are equal because they are alternating angles )

3X+3 = 4X-2 subtract 3X from both sides

3 = X-2. add 2 to both sides

X= 5

Answer:

x = 5

Step-by-step explanation:

As the diagonals of a parallelogram bisect each other (divide into two equal parts):

[tex]\implies 2x+1=x+6[/tex]

[tex]\implies 4x-2=3x+3[/tex]

Solve the first equation for x:

[tex]\implies 2x+1-1=x+6-1[/tex]

[tex]\implies 2x=x+5[/tex]

[tex]\implies 2x-x=x+5-x[/tex]

[tex]\implies x=5[/tex]

Solve the second equation for x:

[tex]\implies 4x-2+2=3x+3+2[/tex]

[tex]\implies 4x=3x+5[/tex]

[tex]\implies 4x-3x=3x+5-3x[/tex]

[tex]\implies x=5[/tex]

Therefore, the value of x that makes the quadrilateral a parallelogram is:

x = 5

What is the equation of the line that passes through the point (-1,-5) and has a
slope of -3?

Answers

Answer:

y=-3x-8

Step-by-step explanation:

y-y1=m(x-x1)

y-(-5)=-3(x-(-1))

y+5=-3(x+1)

y=-3x-3-5

y=-3x-8

I need the answer for this please ASAP i give you 30 points after you answer it correctly

Answers

Answer:

Sum of all the interior angles = 900°

Each angle ≅  128.57° (rounded to the nearest hundredth)

Step-by-step explanation:

The sum of the interior angles of a polygon can easily be found by using the following formula...

Sum of all the interior angles = 180°(n - 2)  

In that formula "n" equals the number of sides a polygon has so in our case

n = 7

So now we know that the sum of all angels equals...

180°(n - 2) = 180° (7 - 2) = 180° (5) = 900°

From here we can easily find the measure of each angle since there is a rule that states that in a regular polygon all angles are equal to each other, so we just have to divide the sum of all interior angles by the number of interior angles, and so we get...

900° / 7 ≅ 128.57 (rounded to the nearest hundredth).

If you need to measure the length of a run of pipe from a house to the water main on the street using metric system, which of the following units would you likely use? A. Centimeters, B. Kilometers, C. Metics D. Millimeters

Answers

Answer:

C.  meters

Step-by-step explanation:

the lengh of a triangle is 16 meters and the width is 3 meters. find the area. give your answer without units

Answers

Answer:

24

Step-by-step explanation:

1/2 bh

16x3/2=24

Simplify 32q^9r^4 / 4q^3r

Answers

Step-by-step explanation:

the answer is 8q^6r^3 and here are the steps in pic.

Answer:

8q^6r^3

Step-by-step explanation:

As powers in denominator are subtracted from powers of numerator.

8 q^9-3 r^4-1

8q^6r^3.

¿????¿?????¿?????????????

1 2/8 - 4 3/6

Answers

Answer:

-3.25, or in fraction form, -3 1/4

Step-by-step explanation:

Hope this helps!

Answer:

-3.25

Step-by-step explanation:

HELP ME PLEASEEEEEEE

Answers

Okay so under the quadrilateral section the first one is a rectangle, the next one is a square, after that it’s a rhombus, and the last one is a trapezoid. Then on the triangles section the first one is an equilateral, the middle one is isosceles, and the last one is scalene. Hope this helped!

20 points!!! What does the perimeter of this figure consist of?

Answers

C
The correct answer is c I am pretty sure

PLS HELP ILL MARK BRAINLIEST

Answers

Answer:

A

Step-by-step explanation:

6) What is the value of digit 7 in 0.057 *.///what is the answer _____________________
7/10
0.07
7/1000

Answers

Answer:

7/1000 thousandths for place value

For what value of x does 3^2x = 9^3x-4?
O 1
O 2
O 3
O 4

Answers

the answer x=2 hope it helps :D

The value of x is 2 so x=2

77 x 11 in turtlehead

Answers

If you mean the calculation of 77x11 then the answer is 847

The expression 2x – 3 represents

Answers

Answer:

two times some value subtracted by 3

Step-by-step explanation:

Exponential Functions

Which of the following points lies on the graph of the function y = 3x?

a. (1, 0) c. (3, 1)
b. (2, 9) d. (0,3)

Please select the best answer from choices provided

Answers

Answer:

B. (2, 9)

Step-by-step explanation:

I calculated it logically

Find the standard deviation of the following data. Round to the nearest hundredth 124, 89, 114, 89, 108, 62, 65

Free brainlist help plz

Answers

Answer:

62,65,89,114,124 im not really sure but examples may vaey depend to lessons and factors...

Step-by-step explanation:

Does this help?

Help pleaseeee…
Referring to the figure, find the area of thetrapezoid shown.

Answers

Answer:

Hello! answer: 90

Step-by-step explanation:

I split the trapezoid into 2 then did base × height ÷ by 2 cause the way I split it it made 2 triangles

10 × 12 = 120 10 × 6 = 60 120 + 60 = 180 180 ÷ 2 = 90 therefore 90 is our area Hope that HELPS!

Find the vertex of the function given below.
y = x^2 - 4x + 1

A. (2,-3)
B. (-2, 13)
C. (4,1)
D. (1,5)

Answers

Answer:

Your answer is B (2,-3)

find the distance between the points (4,0) and (-3,4)

Answers

Answer:

8.0622

Step-by-step explanation:

Find a equivalent expression of 16a - 24 .

Answers

Answer: 8(2a - 3)

Step-by-step explanation:

Answer:

8(2a - 3)

Step-by-step explanation:

(16a - 24) / 8 =

8(2a - 3)

Use the diagram to find the indicated angle measures. Please do 1, 2, and 3. Please need ASAP!!!!!!!!!!!!!!! 30 POINTS

Answers

The measures of given figures are m∠ADC is 90 degrees and m∠DAC will be 34 degrees

What is Triangle?

A triangle is a three-sided polygon that consists of three edges and three vertices.

Given m∠B= 57 degrees

m∠c= 51 degrees

segment AD bisects m∠BAC

then  m∠ADC we need to find.

As AD is perpendicular to BC, the angle of  m∠ADC is 90 degrees.

Given m∠B= 66 degrees

m∠BAD=34 degrees

Now we need to find m∠DAC

m∠DAC will be 34 degrees

Hence, the measures of given figures are m∠ADC is 90 degrees and m∠DAC will be 34 degrees

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Quintin raked his customer’s lawn for 1.2 hours. If Quintin charges $20 per hour, how much money did he make?

Answers

23.9 dollars I believe (I needa waste characters thi)

An observational study of 2,391 people aged 65 or over was conducted. The researchers found that those who attended weekly religious services in person were 40% less likely to have high blood pressure than those who stayed home and watched the same weekly religious services via internet streaming. Which of the following is a valid conclusion?

a. There could be lurking variables such as pre-existing health conditions.
b. Watching religious services via web streaming is boring and unhelpful.
c. Attending weekly religious services in person causes lower blood pressure.
d. We cannot make any conclusions because the study only included people aged 65 or over.

Answers

Answer:

c. Attending weekly religious services in person causes lower blood pressure.

Step-by-step explanation:

From the study carried out about those who are 65 years and above but attending religious services in person rather than watching it online, it was able to show that, blood pressure is reduced.

This is because, they would walk before entering the religious service building as well as engage a little strenous exercise like dancing, singing etc which helps to put their body system in working state. On the other hand, those who watch it online became increasingly exposed to blood pressure due to their sedentary lifestyles of not moving around.

It costs $45 for 9 baseballs. How much would it cost to buy two baseballs?

Answers

Answer: It would cost $10 for 2 baseballs

Step-by-step explanation:

1.) You take 45 and divide it by 9 to find the cost of 1 baseball

2.) You then take the cost of a baseball and multiply it by 2

Solve for x: 3x + 2 < 14 and 2 x-5> -11.

Answers

Therefore the value of x is less than 4 when x is in the inequality 3x + 2 < 14 and greater than -3 when x is in the inequality 2 x-5> -11

What is inequality?

In mathematics, "inequality" refers to a relationship between two expressions or values that is not equal to each other. Therefore, inequality emerges from a lack of balance. For instance, let's say you have 225 and want to purchase a new bicycle that costs $250.

What is expressions or values?

Expressions are carried out, or evaluated, in order to yield a value. In an evaluation process, values of expressions can be employed as components of surrounding expressions.

To solve for x in the inequality 3x + 2 < 14, we can begin by subtracting 2 from both sides to get 3x < 12. Then, dividing both sides by 3 gives x < 4.

To solve for x in the inequality 2 x-5> -11, we can begin by adding 5 to both sides to get 2x> -6, then divide both sides by 2 to get x > -3

So x can be any number greater than -3 and less than 4

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Solve each of the following equations. Show its solution set on a number line. Check your
answers.
5x =3

Answers

Answer:

3/5

Step-by-step explanation:

It should look like this...

x=3/5

(5*(3/5))=3

5*3 = 15

15/5=3

answer answer answer answer answer

The data set that lists the number of performances for each Broadway show in 2017 would be classified as what type of data?

Answers

Answer:

Step-by-step explanation:

data protection act

The data set that lists the number of performances for each Broadway show in 2017 would be classified as what type of data is a ratio.

What are the different levels scales of measurement?

Nominal, Ordinal, Interval, and Ratio are defined as the four fundamental levels of measurement scales that are used to capture data in the form of surveys and questionnaires .

1. Nominal : Nominal scale is a naming scale, where variables are simply “named” or labeled, with no specific order.

2. Ordinal : Ordinal scale has all its variables in a specific order, beyond just naming them.

3. Interval : Interval scale offers labels, order, as well as, a specific interval between each of its variable options.

4. Ratio : Ratio scale bears all the characteristics of an interval scale, in addition to that, it can also accommodate the value of “zero” on any of its variables.

According to the question

The data set that lists the number of performances for each Broadway show in 2017 would be classified as what type of data :

As per different levels scales of measurement :

It will be measured by Ratio  

As ratio is only which will bear the scale all the characteristics of an interval scale, in addition to that, it can also accommodate the value of “zero” on any of its variables.

Hence, the data set that lists the number of performances for each Broadway show in 2017 would be classified as what type of data is a ratio.

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Convert the angle to radians. Leave as a multiple of Pi. 810 degrees

Answers

Answer:

4.5π radians

Step-by-step explanation:

We know that:

1° = π/180 radians

Then

810° = 810*π/180 = 4.5π radians

Answer:

4.5π radians

Step-by-step explanation:

oh shoot its wrong guys srry

PLEASE HELP

Consider the two circles shown


To show that circle P is similar to circle Q, circle P is translated t units to the right. The image is then dilated about it’s center by a scale factor of s.


What are the values of t and s

Answers

Answer:

t is 13

scale factor is 7/4

A picnic cooler contains 5 lemon-lime sodas, 8 colas, 2 diet colas, and 6 root beers. The likelihood of randomly selecting a diet cola instead of a root beer would be described as...



A certain

B impossible

C likely

D unlikely

Just tell me i dont want the link pls

Answers

C likely I think,,,,,,,
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