Mike Jones bought a new split-level home for $150,000 with 20% down. He decided to use Victory Bank for his mortgage. They were offering for 25-year mortgages. Provide Mike with an amortization schedule for two periods. (Use Table 15.1(b)). (Do not round intermediate calculations. Round your answers to the nearest cent.) Payment number Portion to— Balance of loan Interest Principal outstanding 1 2

Answers

Answer 1
Given:-

Value of Home = $150000

Down payment = 20% of $150000 = $30000

Loan Amount = $150000 - $30000 = $120000

Interest on Loan = 13.3/4% or 13.75%

Duration of Loan = 25Year

Calculation:-

Interest per month = 13.75%/12 =0.0114583333333333 % or 0.011458%

No. of months payment required = 25 years x 12 Months = 300 Months

To Calculated the monthly mortgage payment:-

The formula is M = P*i*(1 + i)^n/(1+i)^n – 1

Where M is monthly payment of Mortgage

P = principal amount of Loan = $120000

i = interest per month = 0.011458%

n=duration of loan in months = 300 months

When we apply the formula:

M = $120000*[0.011458*(1+0.011458)^300/(1+0.011458)^300-1]

= $120000*[0.011458*(1.011458)^300/(1.011458)^300-1]

=$120000*[0.011458*30.50697/30.5067-1]

=$120000*[0.011458*30.50697/29.50697]

=$120000*[0.349559/29.50697]

=$120000*0.011847 =$1421.60

So,Morgage payment Per month $1421.60

Period 1

Interest for 1st period = $120000 x0. 011458 = $1374.96

Pricipal Amount paid = $1421.60 -$1374.96 =$46.64

Balance in Principal amount = $120000-$46.64 =$119953.36

Period 2

Interest for 1st period = $119953.36 x0. 011458 =$1374.43

Pricipal Amount paid = $1421.60 -$1374.43 =$47.17

Balance in Principal amount = $119953.36 - $47.17 =$119906.19

Related Questions

Solve for x (13x + 2) (5x - 7) (3x - 4)


Thank you

Answers

[tex]\huge \bf༆ Answer ༄[/tex]

As we know, sum of interior angles of a triangle is 180°

that is ~

[tex] \sf13x + 2 + 5x - 7 + 3x - 4 = 180[/tex]

[tex] \sf21x - 9 = 180 [/tex]

[tex] \sf21x = 180 + 9[/tex]

[tex] \sf x = \dfrac{189}{21} [/tex]

[tex] \sf x = 9 \degree[/tex]

Hence, value of x is 9°

Answer:

x = 9

Step-by-step explanation:

Sum of interior angles is 180:

(13x + 2) + (5x - 7) + (3x - 4) = 18021x - 9 = 18021x = 189x = 189/21x = 9

How do you do it i am very confused/ i just need the answer lol

Answers

Answer:

No question!

Step-by-step explanation:

Hi! Could you please insert a question so I could answer for you?

I would love to help!

Which statement is true about the value of 1-5/?
O It is the distance that -5 is from 0 on the number line.
O It is the distance that -5 is from 5 on the number line.
O It is less than 5.
0 It is greater than 5.

Answers

Answer:

O It is less than 5.

Step-by-Step

OK so, first u check if it has a negative. It does, so its at the left of 0. SO you know its less than.

Find NMC triangle's perimeter if BO:BK=1:3 and ABC triangle's perimeter is 96

Answers

Answer:

  80

Step-by-step explanation:

If we assume the triangles are similar and are isosceles, and that BK is an altitude, then we can work the problem.

Triangle OKN will be similar to triangle BKA, so ...

  AN : AK = BO : BK = 1 : 3

Then ...

  AN : AK : KC = 1 : 3 : 3

In terms of ratio units, ...

  AN = 1

  AC = 3+3 = 6

  NC = 6-1 = 5

This means NC : AC = 5 : 6. The triangle perimeters will have the same ratio.

  perimeter(NMC) = 5/6·perimeter(ABC) = 5/6·96

  perimeter(NMC) = 80

Is 7,301,771 divisible by 6?​

Answers

[tex]\huge\boxed{Hi\: there!}[/tex]

[tex]\huge\mathfrak{Question:}[/tex]

Is 7,301,771 divisible by 6?

[tex]\huge\mathfrak{Answer:}[/tex]

No.

Remember, divisible by means the given number can be divided by a number without a remainder.

If we divide 7,301,771 by 6, we will get a remainder.

[tex]\huge\boxed{Therefore,\: 7,301,771 \: isn't \: divisible\: by 6.}[/tex]

[tex]\huge\mathfrak{Good\: luck!}\\\huge\bold {~CheerfulTeen}[/tex]

Simplify 1/3 (5x-8)+2/3x

Answers

Answer:

7x-8

  3

Step-by-step explanation:

Answer:

2 1/3x - 2 2/3

Step-by-step explanation:

1/3 x 5

1/3 x -8

and add 2/3x to the mix

so

1 2/3x - 2 2/3x + 2/3x = 2 1/3x - 2 2/3

Mark has a certain amount budgeted for dining out each month. Last month, the difference between the amount he budgeted and the amount he actually spent on dining out was less than -20 dollars.

Which of the following best describes this situation?
A.
Mark is under his budget by less than 20 dollars.

B.
Mark is under his budget by more than 20 dollars.

C.
Mark is over his budget by less than 20 dollars.

D.
Mark is over his budget by more than 20 dollars.

Answers

A. He used 20$ under his budget because he wanted to spend less then 20$ for dinner

What’s the 16th term for 32,27,22,17

Answers

Answer:

-43

Step-by-step explanation:

By staring at it for a while you can tell that you're losing 5 every step. You can write the succession as [tex]a_n = 32-5n[/tex] (please notice the first terms starts when [tex]n=0[/tex], not 1!). The 16th term happens at [tex]n=15[/tex]:

[tex]a_1_5=32-5(15) = -43[/tex]

Which of the following is a solution of 4x + 3x = 12?
(a) (4,0)
(b) (3,0)​

Answers

Answer:

B

Step-by-step explanation:

Given equation is 4x+3y = 12

(3,0) is a solution because

LHS =

⇛ 4(3)+3(0)

⇛ 12+0

⇛ 12

⇛ RHS

LHS = RHS

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Which is a solution to the equation y=12-3x A.(4,3) C.(4,0) B.(-4,4) D.(0,4)....

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need help with math probelem i will give you 5 stars and a good rating

Answers

Answer:

8 feet

Step-by-step explanation:

12 x 2 =24

40 - 24 = 16

16 /2 = 8

Hope it helps :)

Help help help help help help math math

Answers

Answer:

4x+14 = 2(2x+7}

12x+6=6{2x+1}

How do you know where to place the decimal in a quotient?

Answers

Answer:

Step-by-step explanation:Move the decimal point in the divisor and dividend. ...

Place a decimal point in the quotient (the answer) directly above where the decimal point now appears in the dividend.

Divide as usual, being careful to line up the quotient properly so that the decimal point falls into place.

Sara earns a basic salary of 14250 every month with an additional 12% commission on her sales. If Sara sold items worth AED 22264 last month, what was her total pay?
a. AED 16921.68
b. AED 24935.68
c. AED 1710
d. AED 2671.68

Answers

Answer:

A

Step-by-step explanation:

Commission: 22264*0.12=2671.68

Total pay: 14250+2671.68=16921.68

The total pay of Sara after adding the commission is: Option A:  AED 16921.68

How to find the net income?

Sara's total pay consists of her basic salary plus the commission on her sales.

Basic salary = AED 14250

Commission on sales = 12% of AED 22264

Commission = 0.12 * 22264

Now, calculate the commission:

Commission = 0.12 * 22264 = AED 2671.68

Total pay = Basic salary + Commission

Total pay = 14250 + 2671.68 = AED 16921.68

So, Sara's total pay is AED 16921.68

Read more about Net Income at: https://brainly.com/question/30404567

#SPJ3

whats -6-10k if k=-1​

Answers

Answer:

The answer would be 4

Step-by-step explanation:

Calculate it

Answer:

4 is the answer.

Step-by-step explanation:

-6 - 10k

=> -6 - 10(-1)

=> -6 + 10

=> 4

Therefore, 4 is the answer.

Hoped this helped.

5^2 x 5^2 20 80 625 425

Answers

i’m confused about what you’re asking are we suppose to multiple or something

square root of the quantity x minus 3 end quantity plus 5 equals x

Answers

Answer:

x =1 if understood it correctly

Step-by-step explanation:

A courtyard has the shape of a rectangle 45 ft and 28 ft wide. How long is a sidewalk from one corner diagonally to the opposite corner?
56 ft

47 ft

50 ft

53 ft

Answers

Answer:

53

Step-by-step explanation:

We use the pythagorean theorem, a^2 + b^2 = c^2. We can fill a and b for 45 and 28. 45^2 is 2025, and 28^2 is 784. Adding them up gives us 2809. The square root of 2809 is 53.

the hoover dam is 725 feet tall. how long would it take an object to fall from the top to the base of the dam? round the answer to two decimal places

Answers

Answer:

45.05 seconds

Step-by-step explanation:

Use the formula: d = v[tex]i[/tex] t + [tex]\frac{1}{2}[/tex] a[tex]t^{2}[/tex]

d = distance      v[tex]i[/tex] = initial velocity (m/s)    

t = time (s)     a = acceleration (m/[tex]s^{2}[/tex])

m is meters and s is seconds. They are units of measurement so leave them be.

Assuming the object is simply dropped, the initial velocity is 0 since the object was not moving before it was dropped.

The distance is 725 feet, which is 220.98 meters.

The acceleration is 9.81m/[tex]s^{2}[/tex] since that is the acceleration of Earth's gravity, aka free fall.

Time is what we are trying to find so just leave it as the variable t.

So plug the values into the equation:

220.98m = (0)(t) + [tex]\frac{1}{2}[/tex] (9.81m/[tex]s^{2}[/tex])(t)

220.98m = (4.905m/[tex]s^{2}[/tex])(t)

45.0519877676s = t

t = 45.05s

Remember to pay attention to units because your answer will be wrong otherwise

Solve this system of equations using the Substitution method. Don't forget to write your final answer as a coordinate point. You must show all your work
3x + y = -2
y = 2x +3

Answers

The substitution method and writing the solution of the system in terms of coordinate point (x, y) = (-1, 1).

A system of linear equation is a group of one or more linear equations which can be solved by using a simultaneous equation or elimination method.

From the information given;

3x + y = -2      ----- (1)

y = 2x +3        ----- (2)

By using substitution method, we will replace the value of equation (2) into equation (1), by doing so, we have:

3x + (2x + 3) = -2

3x + 2x + 3 = -2

5x + 3 = -2

5x = -2 - 3

5x = - 5

x = -5/5

x = -1

From equation (2), let's replace the value of x = - 1 into equation (2);

y = 2x + 3

y = 2(-1) + 3

y = -2 + 3

y = 1

Therefore, by using the substitution method and writing the solution of the system in terms of coordinate point (x, y) = (-1, 1).

Learn more about substitution method here:

https://brainly.com/question/14619835?referrer=searchResults

Evaluate the expression
“-8.56x + 31.7 for x= 75.6”

A. -615.436
B. 614.436
C. 615.436
D. -614.436

Answers

Answer:

Substitute

Step-by-step explanation:

x=75.6

-8.56(75.6) + 31.7=-615.436

Answer: -615.436

What is the number that is greater than 0.13 but smaller than 0.131

Answers

Answer:

any number between the two

for example: 0.1309, 0.1308, 0.1301, etc.

Step-by-step explanation:

hope this helped :)

Step-by-step explanation:

0.1308, 0.1309, 0.1301

whats -3u + 5 if u=2​

Answers

Answer:

-1

Step-by-step explanation:

-3(2) = -6 + 5 = -1

Answer:

-1

Step-by-step explanation:

-3u + 5 =?

when u=2

= -3(2) + 5

= -6 + 5

= -1

Consider this diagram of quadrilateral ABCD, which is not drawn to scale.

Answers

Answers: Choice B and Choice D.

[tex]\angle ABE \cong \angle CDE[/tex]  and [tex]\overline{AE} \cong \overline{CE}[/tex]

=====================================================

Explanation:

The tickmarks tell us which segments are congruent to one another. The segments with single tickmarks show that AE and CE are the same length. So this is why [tex]\overline{AE} \cong \overline{CE}[/tex]

---------------

The two triangles AEB and CED can be proven congruent through the use of the SAS theorem. From there, use CPCTC to conclude that the corresponding angles ABE and CDE are the same measure i.e. [tex]\angle ABE \cong \angle CDE[/tex]. They are alternate interior angles which helps lead to side AB being parallel to CD.

Answer:

B & D  or <ABE=<CDE, AE=CE

Step-by-step explanation:

I got it right on khan

product of (x+2y^2)(2x-2y^2)

Answers

Answer:

Step-by-step explanation:

(x + 2y²)(2x - 2y²)

FOIL

First

x(2x) = 2x²

Outside

x(-2y²) = - 2xy²

Inside

2y²(2x) = 4xy²

Last

2y²(-2y²) = - 4y⁴

combine like terms

2x² + 2xy² - 4y⁴

Answer:

-4y^4 + 2xy^2 + 2x^2

Step-by-step explanation:

(x + 2y^2) (2x - 2y^2)

x(2x) + x(-2y^2) = 2x^2 - 2xy^2

2y^2(2x) + 2y^2(2y^2) = 2xy^2 + 4y^4

2x^2 - 2xy^2 + 4xy^2 - 4y^4

2x^2 + 2xy^2 - 4y^2

or

-4y^4 + 2xy^2 + 2x^2

please help ill mark brainliest​

Answers

Answer:

I think it is 8

Step-by-step explanation:

sorry If I'm wrong

Three more than the product of 24 and Matt's height

Answers

Answer:

24m + 3 or (24 × m) + 3

Step-by-step explanation:

product = multiplying

matts height = variable

more than = addition

add together and that's your algebraic expression hope this helps :)

Find the Value for X,Y and z using Gauss-Jordan Inversion method
2X+3Y=4
X+2Y=2

Answers

Answer:

x = 2 y = 0

Step-by-step explanation:

Answer:

Step-by-step explanation:

I’m confused with this question I need helppp please

Answers

It's the first one

I hope this help :)

Answer:

B. I and II

More Information:

Function :

A special relationship where each input has a single output.

graph A represents the function f(x)=^3 graph B and C are transformations of graph A

Answers

Answer:

A3

Step-by-step explanatio

Find the values of x and y

Answers

Answer:

  x = 25, y = 19

Step-by-step explanation:

The external angle is supplementary to the adjacent internal angle.

  2x +130 = 180

  2x = 50 . . . . . . . subtract 130

  x = 25 . . . . . . . divide by 2

__

The external angle is equal to the sum of the remote internal angles.

  130 = 54 +4y

  76 = 4y . . . . . . . subtract 54

  19 = y . . . . . . . divide by 4

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