What would be your mortgage payment if you pay for a $250,000 home by making a 20% down payment and then taking out a 3.74% thirty year fixed rate mortgage loan to cover the remaining balance

$925.097.                    

Step-by-step explanation:

We  will use EMI formula to answer our problem.

, where,

E is EMI.

P= Principal loan amount.

r= the rate of interest calculated on monthly basis.

We need to figure out our principal loan amount before using this formula. We are told that we have to pay 20% of $250,000 as down payment, therefore our principal loan amount will be 80% of $250,000.

Now let us use EMI formula to find our mortgage payment.

           

Therefore, the mortgage payment to cover remaining balance in 30 years will be $925.097 per month.

Scott is 62+3=65 inches tall, and there are 12 inches in a foot, so you get 65/12=about 5 whole feet. 5 whole feet is 60 inches in total, so we have a leftover 5 inches, meaning that Scott is 5 feet and 5 inches tall.