You agree to purchase a home for $200,000 and decide to make a 20% down payment on the home. You finance the rest of the home payment with a 15 year fixed rate mortgage with an annual interest rate of 5.25%. Assuming that you make regular monthly payments, determine your regular monthly payment amount. Provide just a numerical answer rounded to the nearest cent.

Answers

Answer 1

Answer:

a or 1. $40,000 is the down payment

b or 2. 180 months = 15 years

c or 3. $168,400 is the left over payment (including mortgage)

d or 4. $935.56 (the monthly payment)

Step-by-step explanation:

1. To calculate the down payment, we need to calculate 20% of $200,000.

200,000 x 0.20  = $40,000

Therefore, the down payment on the home costs $40,000.

2. Now, let's figure out how many months are in 15 years.

15 x 12 = 180

So, the mortgage will be paid in 180 months.

3. Next, we need to find out how much money needs to be paid in the 15 years.

200,000 - 40,000 = $160,000

This price will also include an annual interest rate of 5.25%. So, we need to find 5.25% of $160,000.

160,000 x 0.0525 = $8,400 <--- interest rate when rounded to the nearest cent.

160,000 + 8,400 = $168,400 <--- total amount over 15 years

4. To find the monthly payment, we must divide the total amount of money ( or  $168,400), by the number of months, (or 180.)

$168,400 ÷ 180 = $935.56 when rounded to the nearest cent.

Hope this helps! :)


Related Questions

Susan plans to watch 3 movies each month. Write an equation to represent the total number of movies n that she will watch in m months.

Answers

Answer:

3n=m

Step-by-step explanation:

Answer:

3m=n

Step-by-step explanation:

m equals the number of months she watches multiply that by three because three plus three plus three is the same as three times three.  and n is the equal because that is our total of movies she is going to watch. so three times the number of months she watched three movies consecutively to equal the total number of movies

Which triangle has vertices (0,0), (-1,4), and (-4,1)?​

Answers

Answer:

Triangle N

Step-by-step explanation:

Triangle N has the coordinates (0,0), (-1,4), and (-4,1)

how to know if i have to subtract or add in a point slope form? for example the part where it says (x - 1) how would i know if its (x - 1) or (x + 1) ?????????????

Answers

9514 1404 393

Answer:

  rules of signs apply

Step-by-step explanation:

The point-slope form of the equation for a line of slope m through point (h, k) is ...

  y -k = m(x -h)

If the point coordinates are positive, their values show up in the equation with a minus sign.

Example:

  slope 2, point (3, 4)

  y -4 = 2(x -3)

__

If a point coordinate is negative, its value shows up in the equation with a plus sign.

Example:

  slope 2, point (-3, 4)

  y -4 = 2(x -(-3)) . . . . fill in the given value

  y -4 = 2(x +3) . . . . . simplify according to sign rules

__

The slope keeps its sign.

Example:

  slope -1/2, point (-3, 4)

  y -4 = -1/2(x +3) . . . . we only changed the slope from the previous example

Answer:

teehee

Step-by-step explanation:

:)

The value of a professional basketball player's autograph rose 20% in the last year. It is now worth $276.00. What was it worth a year ago?

Answers

Answer:

The answer is $221

Step-by-step explanation:

$276×.20=55.2

$276-55.2 = $220.8 roundup by $221

Describe all numbers x that are at a distance of 1/2 from the
number – 4. Express this using absolute value notation.

Answers

Answer:

| x + 4 | = 1/2

Step-by-step explanation:

We want the numbers on the number line that are at a distance of 1/2 from "-4".

We can express such via the absolute value as :

| x - (-4) | = 1/2

| x + 4 | = 1/2

7. One day in Mayville, the temperature went from -11F at 4 AM to 28°F at 2 PM. How many degrees did the temperature rise?​

Answers

Answer:

23

Step-by-step explanation:

find the slope of a line parallel to x-y=18

Answers

Answer:

Mparallel = 1

Step-by-step explanation:

Hope this helps!

Let f (x) represent a function. Which description match the given transformations? Drag and drop the answers into the boxes. f( x - 5/3), f (x) - 5/3. ( Only answer if you know how to please and thank you). ​

Answers

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[tex]f(x - \frac{5}{3} ) \\ [/tex]

↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓

[tex]f(x) \: \: is \: \: translated \: \: \frac{5}{3} \: \: units \: \: right \\ [/tex]

_________________________________

_________________________________

[tex]f(x) - \frac{5}{3} \\ [/tex]

↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓

[tex]f(x) \: \: is \: \: translated \: \: \frac{5}{3} \: \: units \: \: down \\ [/tex]

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$22(1 + 0.07)=
h
Your answer

Answers

Answer:

21.5

Step-by-step explanation:

how many pennies in a dollar

Answers

Answer:

100

Step-by-step explanation:

100 pennies are in a dollar

Answer:

100 pennies are in a dollar.

Step-by-step explanation:

a penny is one cent so to get a dollar you have to have 100 pennies.

Representative money has value because:
A)it is assigned value by a government.
B) it can be used only for food or shelter
C) it can be exchange for specific goods.
D) it is made of a valuable material.

Answers

Answer:

it can be exchange for specific goods

Step-by-step explanation:

jus did it

Representative money has value because it is assigned value by a government. Option A is correct.

What is representative money?

Representative money is defined as money a introduced or produced by the government according to physical commodities such as gold the respective government has.

Here,
Option A) states that representative money is assigned by the government.
it's true because no other body has the authority to introduce money.


Options B, C, and D are false statements because they can be used in anywhere within the boundary and for any goods and services. And it is made up of specific material.


Thus, Representative money has value because it is assigned value by a government.

Learn more about representative money here:
https://brainly.com/question/11352215

#SPJ5


EASY QUESTION #2 Ken has read 35 pages of a 120-page book, 53 pages of a 175-page book, and 37 pages of a 155-page book. Part B: What percent of total pages HAS Ken read?

Answers

Answer:

I think it is 125/450=x/100

I'm not sure but i think so, hope this helps!

Step-by-step explanation:

A triangle has squares on its three sides as shown below. What is the value of x? (1
point)
6 cm
xom
8 cm
1) 2 centimeters
2) 6 centimeters
3) 8 centimeters
4) 10 centimeters

Answers

Answer:

10 since its the longest part of the triangle ig

Step-by-step explanation:

Answer: 10 centimeters

Step-by-step explanation:

Because it's longer than both the other sides so it has to be 10.

Divide 1,260 by 1.5
Hi

Answers

Answer:

840.......Hai

Answer:

1,260÷1.5=840 here is your answer

if ABC forms a linear pair with CBD, use the Linear Pair Postulate to determine the value of x

Answers

There you go any questions?

The value of x from the figure is 13

The sum of angles on a straight line is 180 degrees.

From the given diagram;

2x + 13x - 15  = 180

Simplify

15x - 15  = 180

Add 15 to both sides

15x - 15 + 15 = 180 + 15

15x = 195

x = 195/15

x = 13

Hence the value of x from the figure is 13

Learn more on linear pair here: https://brainly.com/question/8720873

A square poster has an area measure of 324x^2 + 540x + 225 square units. Determine the side length of the poster.

Answers

[tex]\huge\text{$(18x+15)$ units}[/tex]

Given the area, we need to find the side length. Let's start with the area equation for a square, where [tex]s[/tex] is the side length and [tex]A[/tex] is the area.

[tex]s^2=A[/tex]

Substitute in the known value.

[tex]s^2=324x^2+540x+225[/tex]

Now we need to factor the trinomial. The trinomial given for the area is a perfect square trinomial since [tex]324[/tex] ([tex]18^2[/tex]) and [tex]225[/tex] ([tex]15^2[/tex]) are both perfect squares.

We also know that [tex]a^2+2ab+b^2=(a+b)^2[/tex], which we can use to factor.

[tex]s^2=324x^2+540x+225\\s^2=(18x)^2+2(18x)(15)+15^2\\s^2=(18x+15)^2[/tex]

Now, take the square root of both sides to fully isolate [tex]s[/tex].

[tex]\sqrt{s^2}=\sqrt{(18x+15)^2}[/tex]

Keep in mind that the square root of any value squared is the original value.

[tex]s=\boxed{18x+15}[/tex]

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Answers

Answer: 4/20, or 1/5

Step-by-step explanation: since there are 4 orange, and 20 total, then if you were to draw an orange it would be 4/20(this is very basic probability)

Answer:

A

Step-by-step explanation:

pretty sure thats it

PLEASE HELP ME DUE TODAY



If 1 cm equals 1 million km in a scale drawing, how far in km would 217 cm represent?

Answers

Answer:

217 million km

Step-by-step explanation:

1 cm = 1 m. km

217 cm = 217 m. km

What is the slope of the line that contains the points (1,-1) and (-2,8)

Answers

m= -3
y2-y1/x2-y2=slope

-7 + 11p = 3p - 47
Please help me figure out how to work it out

Answers

Answer:

p = -5

Step-by-step explanation:

11p-3p = 8p

-47+ 7 = -40

8p = -40

-40/8 = -5

IF UR GOOD IN GEOMETRY THIS QUESTION IS FOR YOU !! PLEASE HELP I SUCK AT MATH !

Answers

Answer:

1/2

Step-by-step explanation:

Jonathan, a college business student wants to study how many pages of notes fellow classmates took during a semester for a finance class. Past data reveals that pages of notes for a finance college class has a mean of 95 , with standard deviation 25 pages. He plans to take a random sample of 30 such college students and will calculate the mean pages of notes they take to compare to the known pages of notes students take for a finance college class. For these values, the mean and standard deviation of the sampling distribution of sample means for a sample of size 30 are: μx¯=95 and σx¯=2530√=4.6. What is the probability that the sample mean for a sample of size 30 will be at least 99? You may use a calculator or the portion of the z-table given below.

Answers

Using the normal distribution and the central limit theorem, it is found that there is a 0.1913 = 19.13% probability that the sample mean for a sample of size 30 will be at least 99.

Normal Probability Distribution

In a normal distribution with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

It measures how many standard deviations the measure is from the mean. After finding the z-score, we look at the z-score table and find the p-value associated with this z-score, which is the percentile of X.By the Central Limit Theorem, the sampling distribution of sample means of size n has standard deviation [tex]s = \frac{\sigma}{\sqrt{n}}[/tex].

For the population, the mean and the standard deviation are given by, respectively, [tex]\mu = 95[/tex] and [tex]\sigma = 25[/tex].

For a sample of 30, we have that:

[tex]n = 30, s = \frac{25}{\sqrt{30}} = 4.6[/tex]

The probability that the sample mean for a sample of size 30 will be at least 99 is one subtracted by the p-value of Z when X = 99, hence:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

By the Central Limit Theorem

[tex]Z = \frac{X - \mu}{s}[/tex]

[tex]Z = \frac{99 - 95}{4.6}[/tex]

[tex]Z = 0.87[/tex]

[tex]Z = 0.87[/tex] has a p-value of 0.8078.

1 - 0.8087 = 0.1913.

0.1913 = 19.13% probability that the sample mean for a sample of size 30 will be at least 99.

More can be learned about the normal distribution and the central limit theorem at https://brainly.com/question/24663213

What is the term used for unscheduled full or partial payment of the principal amount
outstanding on a loan before its due date?

Answers

Are there any answers choices? I’m going of my gut and saying it’s prepayment

Answer:

This is called a prepayment

Natalie buys a basketball for $25.57 and an air pump for $15.61. How much change will she receive if she pays for both items with a $50 bill?

Answers

Answer:

[tex]Change = \$8.82[/tex]

Step-by-step explanation:

Given

[tex]Basketball = \$25.57[/tex]

[tex]Air\ Pump = \$15.61[/tex]

[tex]Amount = \$50[/tex]

Required

Determine the change received

First, we need to calculate the total amount spent

[tex]Total = \$25.57 + \$15.61[/tex]

[tex]Total = \$41.18[/tex]

This implies that Natalie pays a total of $41.18

Next, we calculate the change as thus:

[tex]Change = Amount - Total[/tex]

[tex]Change = \$50 - \$41.18[/tex]

[tex]Change = \$8.82[/tex]

Hence, the change is $8.82

a rectangular sign has a length of 3 and 1/2 ft and width of 1 and 1/8 ft will the area of the sign be greater or less than 3 and 1/2 ft, how do you know? What is the area of the sign?

Answers

Answer:

The area is 3.9375 cubic ft, so yes, the area will greater than 3 and 1/2 ft.

Hope this helps:)

Step-by-step explanation:

Length of a rectangular sign :-

[tex] = 3 \frac{1}{2} \: \: m[/tex]

Width of a rectangular sign :-

[tex] = 1 \frac{1}{8} \: \: m[/tex]

We know that :-

The formula for finding the area of a rectangle is :-

[tex] =\bold{ length \times breadth}[/tex]

Which means :-

The area of the rectangular sign:-

[tex] =3 \frac{1}{2} \times 1 \frac{1}{8} [/tex]

[tex] = \frac{(2 \times 3 )+ 1}{2} \times \frac{(8 \times 1) + 1}{8} [/tex]

[tex] = \frac{6 + 1}{2} \times \frac{8 + 1}{8} [/tex]

[tex] = \frac{7}{2} \times \frac{9}{8} [/tex]

[tex] = \frac{7 \times 9}{2 \times 8} [/tex]

[tex] = \frac{63}{16} [/tex]

[tex] ={3 \frac{15}{6} \: \: }[/tex]

[tex] = 3 \frac{15 \div 3}{6 \div 3} [/tex]

[tex] ={ 3 \frac{5}{2} \: m}[/tex]

Thus, the area of the rectangular sign is:-

[tex] =\bold{ 3 \frac{5}{2} \: m}[/tex]

We can see that :-

[tex]\bold{3 \frac{5}{2} \: > 3 \: \frac{1}{2} \: }[/tex]

Which will mean that the area of the rectangular sign is greater than [tex] { 3 \frac{1}{2} \: m}[/tex].

Therefore, the area of the rectangular sign is = [tex] \bold{ 3 \frac{5}{2} \: m}[/tex] and it is greater than [tex] \bold{ 3 \frac{1}{2} \: m}[/tex] .

This problem uses the Richter scale for the strength of an earthquake. The strength, W, of the seismic waves of an earthquake are compared to the strength, W0, of the seismic waves of a standard earthquake. The Richter scale rating, M is given by the following equation:

M=log(W/W0)

Now, consider the Caracas earthquake, which occurred in Venezuela in the year 1967 and had a Richter scale rating of 6.5. How many times more powerful were the seismic waves of the Caracas earthquake than standard seismic waves?

Answers

It's D thanks me later

Find the value of X. Geometry Please Help!!!

Answers

Answer:

D.5

Step-by-step explanation:

An angle bisector makes both sides of the angle equal (usually). Set the equation to 6x+4=8x-6. Solve for x by subtracting 6x from both sides so you get 4=2x-6. Add 6 to both sides so the equation is now 2x=10 and divide by 2.

HELP THIS IS HARD FOR ME I WILL GIVE POINTS

Answers

Depends on which form you want it in, in exact form it’s 7/2; decimal form is 3.5; and mixed number form is 3 1/2

Answer:

x = 7\2

Step-by-step explanation:

-6x-4x = -15-20

-10x = -35

x = 7\2

Hope this helps you.

Mark as Brainliest please.

2(x – 9) = 10x + 11
Help

Answers

Answer:

exact form: -28/8

decimal form: -3.625

mixed number form: -3 5/8

Answer:

x = -3.625

Step-by-step explanation:

France Under Louis XVI
Could approve taxes Response area Response area
The Estates General
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Characteristics of the First Estate Characteristics of the Second Estate Characteristics of the Third Estate
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Privileges of the First and Second Estate leave blank Changes wanted by the Third Estate
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New constitutionShare of political powerAristocracyArtisans and workersCalled by Louis for 1789ClergyCould advise kingOne vote per delegateOne vote per estateFood shortagesHigher clergy are noblesLast met in 1614Lesser noblesMet at VersaillesNearly bankruptNot taxedOwned much landPaid taxesPeasantsRich nobles held all high officesDelegates high clergyRich and powerful noblesTax everyoneUnemploymentWealthy middle classNot taxedNot taxedTook part of peasants' production
PreviousReview

Answers

Answer:

thx

Step-by-step explanation:

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