Maggie R.
asked • 06/16/22can someone help me slove this please.
What is the amount to be mortgaged after the down payment is deducted?
the adjusted monthly interest rate as a decimal; i=?
the monthly payment if it is a 25 year mortgage?
Yefim S. answered • 06/16/22
Math Tutor with Experience
PV = 2540000 - 45000 = $209000
Using TI-84 APPS solver we get: PMT = $6367.68 per 6 month
Mark M.
Luke J.: A = P (r (1+r)^n) / ( (1+r)^n -1 ), where A is the monthly payment, P is principal, r period interest rate, n number of payment. More arithmetic than anything else.06/16/22
Get a free answer to a quick problem.
Most questions answered within 4 hours.
Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.
Answers · 10
Answers · 8
Answers · 8
Answers · 6
Answers · 18
Dana H.
5.0 (1,201)
Caleb C.
5.0 (306)
Noah S.
5.0 (662)
Luke J.
What steps could you have done to show how to arrive to that 636.68 figure? This seems lack-luster and not incredibly helpful. It gives the student an endpoint to compare their final result, but no real way to check where they went wrong.06/16/22