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Posted in Mathematics

If the purchase price for a house is $445,500, what is the monthly payment if you put 5% down for a 30 year loan with a fixed rate of 6.25%?


Answer:

The monthly payment is $2603.17

Step-by-step explanation:

The purchase price is = $445500

5% is down payment = 0.05\times445500=22275

Loan amount is = 445500-22275=423225

The EMI formula is = \frac{p*r*(1+r)^{n} }{(1+r)^{n}-1 }

p = 423225

r = 6.25/12/100=0.0052

n = 30*12 = 360

Putting the values in the formula we get:

\frac{423225*0.0052*(1.0052)^{360} }{(1.0052)^{360}-1 }

= $2603.17

The monthly payment is $2603.17 approx


Related Questions

Posted in Mathematics

The price of a cup of coffee was $2.65 yesterday. today, the price fell to $2.50 . find the percentage decrease. round your answer to the nearest tenth of a percent.

We must find the difference between prices. $2.65 - $2.50 = $0.15. Now we need to calculate what percent $0.15 is of $2.65. It is 5.7%! The price decreased, so it is a 5.7% decrease!

Posted in Mathematics

Algebraic terms are separated by ______. Choose all that apply. 1)= 2)+ 3)x 4)÷ 5)-

Answer

1)=

2)+

5)-

Explanation

When letter or numbers are separated by multiplication or division can be combined to make one term.

In an algebra equation, terms are separated by an addition sign, subtraction sign or an equal sign. For example,

3a + 7b = 21.

This equation have 3 terms.

Posted in Mathematics

Amy wants to run the 26 miles of the marathon in 4.5 hours. at what rate will she have to run to reach thisbgoal??

The answer is:
____________________________
5.778 mi/ h;
   → or;  write as:  5 ⁷/₉ mph {"miles per hour"}.
______________________________________
Explanation:
_____________________________________

We shall solve in miles ("mi.") per hour ("h");  denoted as "mi / h" ; or sometimes, "mph".
______________________________________

Given 26 mi / 4.5 h ; we want to solve for the number of miles (mi) per unit hour (h),
________________________________
The answer is (26/ 4.5) mi / h l 
______________________________
26 ÷ 4.5 = 5.7777777777777778→       Round to:  5.778 mi/ h;
                                                                → or;  write as:  5  ⁷/₉ mi /h
_____________________________________________________

Posted in Mathematics

A laptop computer sells for $850. the sales tax is 7%. what is the total cost of the laptop?

Answer:

$909.50

Step-by-step explanation:

$850 x 7% = $59.50 (tax amount)

850 x (1+ 0.07) = $909.50

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Posted in Mathematics

A department store has a discount on shoes based on a percentage of the price suppose one pair of shoes is marked down from $70 to $49 what is the price for a $100 pair of shoes after the discount is applied

We first need to find the difference between $70 and $49.
$70 - $49 = 21

Now we find out what percent $21 is of $70.
21/70 × 100 = 30%.

That means the discount is 30%!

Now we must find 30% of $100, which is $30.

Then we subtract $30 from $100.

$100 - $30 = 70$

Posted in Mathematics

A car travel 90 Km in 2 1/2 hours. How much time is required to cover 30 Km and find the distance cover in 2 hours

90:2 1/2
90/3 : (2 1/2)/3
30 : (2 1/2)/3
30 : (5/2)/(3/1)
30 : 5/2*1/3
30 : 5/6
30km in 50 mins

90 : 2 1/2
90/(2 1/2) : (2 1/2) / (2 1/2)
90/(2 1/2) : 1
(90/1)/(5/2) : 1
(90/1)*(2/5) : 1
180/5 :1
36:1
Multiply each side by 2:
72:2
72 km in 2 hours

Hope this helps :)

Posted in Mathematics

The price p of an icecream is $3.95 plus $0.85 for each topping t on the ice cream

You can add $3.95 and $0.85 but it mostly depends on how many toppings you put on the ice cream.

Posted in Mathematics

Is 30y^2 a polynomial?

No. polynomials are expressions that have two or more terms in them. 30y² is a single term, or a monomial. the prefix poly- means many and the prefix mono- means one, for future reference.

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Posted in Mathematics

Which of the following ordered pairs corresponds to an arrow on a mapping diagram that starts at 4 and ends at 1? Map Diagram: Input 1 2 3 4 5 Output 1 2 3 4 5 The arrow points from 4 under input to 1 under output. Answer Choices are: A. (1, 1) B. (1, 4) C. (4, 1) D. (4, 4)

Input options represent first number in ordered pair and output options represent second number in ordered pair.

We can see that arrow starts from 4 and is pointing to 1 which means:
first number is 4 and second is 1

Ordered pair is:
(4,1)

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How can you solve 0.01×30

You can just do 1x30 which equals 30

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Steven earns money babysitting. He charges 31.25 for 5 hours and 50 for 8 hours explain what the constant rate of change means I this coming tent

31.25/5=50/8. Divide 31.25 by 5 you get 6.25. Divide 50 by 8 you get 6.25. The constant ratio is: 6.25=6.25 :)

Posted in Mathematics

What's The unknown value of 27 is 30% of blank

Write what you know in an equation: 27=30%•X. Divide 27 by .30 to get X alone: 27/.30=90. 27 is 30% of 90 :)

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Posted in Mathematics

The price of an item has been reduced by 70% . The original price was $60 . What is the price of the item now?

Discount price would be: 60*70/100
60*0.70 = 42

So, after discount, it would be: $60 - $42 = $18

So, your final answer is $18

Hope this helps!

Posted in Mathematics

Membership in the fishing club went from 120 members last year to 87 members this year. What was the percent of decrease in membership?

It would be: 87/120 * 100 = 72.5

Percentage decrease = 100 - 22.5 = 27.5

So, your final answer is 27.5%

Hope this helps!

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30 g equals how many dg

The answer is 300 decigrams

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125% of what number is 264

Let, the number = x
x * 125 / 100 = 264
x = 264*100 / 125
x = 26400/125
x = 211.2

So, that number & your final answer is 211.2

Hope this helps!

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Posted in Mathematics

What is 15 divided by 1,230?

Simplify things
15(82) = 1230 
15 / 1230 =  15/ (15*82)
hence =1/82

Posted in Mathematics

The rainfalls 2 years ago was 10.2 inches.last year total was 20 percent greater. what was last years rainfalls total

It would be: 10.2 + 10.2 * 0.20
= 10.2 + 2.04 = 12.24

So, your final answer is 12.24

Hope this helps!

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Posted in Mathematics

What is 22.5% written as a mixed number

It would be: 22.5% = 225/10 = 45/2 = 22 1/2

So, your final answer is 22 1/2

Hope this helps!

Posted in Mathematics

Find the amount paid for the loan.$1500 at 9% for 2 years

It would be: P * R * T /100
 = 1500 * 9 * 2 /100 = 27000/100 = 270

So, the amount paid would be $270

Hope this helps!

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