Rich is buying a home for $244,800. he is making a 15% down payment and financing the rest with a 25-year loan a 5.25% interest

a. $1149.02

b. $1216.44

c. $1246.82

d. $1466.84

C. $1246.82

Step-by-step explanation:

Using the factor shown in the table for a 25-year loan at 5.25%, the calculated payment is ...

5.992·(244.8·0.85) = 1246.82

The factor of 0.85 on the home price represents the effect of subtracting 15% from the price to get the loan value. Of course, the home price is the number of thousands, so is 244.8 thousand.

_____

If you do the calculation, rather than use a factor from a table, you get a mortgage payment value of $1246.91. This suggests that the numbers in the table need more significant digits for loan values this high.

-13

Step-by-step explanation:

Subtract  4  from both sides of the equation

+ 4 = − 9

+ 4 − 4 =− 9 − 4

Simplify

Solution:

= − 1 3