flowergirly34
19.11.2019 •
Mathematics
Suppose a $75,500 mortgage is to be amortized at 6.5% interest. find the total amount of interest that would be paid for a 40 year term. what is the amount of interest for a 40 year mortgage?
Solved
Show answers
More tips
- F Food and Cooking 10 Reasons Why You Should Avoid Giving Re-Gifts: An Informative Guide...
- S Sport How to wrap boxing hand wraps? Everything you need to know!...
- A Animals and plants 5 Tips for Taking Care of Yews to Keep Them Green and Beautiful...
- H Health and Medicine How to Calm Your Nerves? Expert Tips That Actually Work...
- O Other What is a Disk Emulsifier and How Does it Work?...
- S Sport How to Pump Your Chest Muscle? Secrets of Training...
- C Computers and Internet How to Get Rid of 3pic Infector: Everything You Need to Know...
- S Style and Beauty How to Grow Hair Faster: Real Methods and Advice...
- C Computers and Internet How to Top Up Your Skype Account Without Losing Money?...
- C Computers and Internet How to Get Rid of Spam in ICQ?...
Answers on questions: Mathematics
- M Mathematics Simplify (3xy) to 6th power...
- M Mathematics Look down for question...
- M Mathematics What does (-9)^-2 mean?...
- M Mathematics PLEASE HELP I GIVE THANKS...
- M Mathematics What is 72:75 as as fraction...
- M Mathematics Which answer is a root of f(x)=0 with a multiplicity of 2? a. -2 b. 4 there is also a graph with x-intercepts of -2 and 4 the y-intercept is at -250...
- M Mathematics Write the equation of the line in slope intercept form: points(-6, 0) (-3,-1) (0,-2) i understand the concept but if i plug in the slope and x and y, i don t get -2...
- M Mathematics Which one is “most common” mean ,median, or mode.and why?...
- M Mathematics Express the sum of the angles of this triangle in two different ways....
- M Mathematics Find the roots of the quadratic function x^2=100...
Ответ:
The formula is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 75500
PMT monthly payment?
R interest rate 0.065
K compounded monthly 12
N time 40 years
So we need to solve for pmt
PMT=Pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
PMT=75,500÷((1−(1+0.065÷12)^(
−12×40))÷(0.065÷12))
=442.02 (this is the monthly payment)
Now find the amount of interest
Total interest=total paid-present value
Present value=75500
Total paid
442.02×12months×40years
=212,169.6
Total interest=212,169.6−75,500
=136,669.6
The answer is 136,669.6
Ответ:
=
Cross-multiply:
92x=6000
x=65 questions