What monthly payment is required to pay off an $80,000 mortgage at 8.9% interest in 30 years?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (10 reviews)
63795 write the recursive formula for the situation where p represents the monthly ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Discovering Advanced Algebra An Investigative Approach
ISBN: 978-1559539845
1st edition
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
Question Posted:
Students also viewed these Linear Algebra questions
-
Since Chapter 1, you have solved problems about monthly payments, such as auto loans and home mortgages. You've learned how to find the monthly payment, P, required to pay off an initial amount, A0,...
-
Oliver wants to buy a cabin and needs to borrow $80,000. What monthly payment is necessary to pay off the mortgage in 30 years if the annual interest rate is 8.9%, compounded monthly?
-
Christine took a world cruise that had a cash price of $23,000 by paying 10% down and financing the balance with a 48-month fixed installment loan. The APR on the loan was 6.0%. Before making the...
-
Every human being fears to fail. This is the same case with the leaders. Most of the leaders are afraid of some things, but failing is the most feared among all of them. The loss of direction among...
-
According to the efficient market hypothesis: a. High-beta stocks are consistently overpriced. b. Low-beta stocks are consistently overpriced. c. Positive alphas on stocks will quickly disappear. d....
-
A countershaft carrying two V-belt pulleys is shown in the figure. Pulley A receives power from a motor through a belt with the belt tensions shown. The power is transmitted through the shaft and...
-
Refer to the Hotbox Ltd production process details in problem 21.25. Required Explain in detail, using the facts from Problem 21.25 why it is most appropriate for Hotbox Ltd to use a process costing...
-
(Adjusting Entries) Bjorn Borg is the new owner of Ace Computer Services. At the end of August 2005, his first month of ownership, Bjorn is trying to prepare monthly financial statements. Below is...
-
Required information Use the following information for the Exercises below. ( Algo ) [ The following information applies to the questions displayed below. ] Laker Company reported the following...
-
You are the owner of a small business that manages the program, food, and merchandise sales at the Excel Center, where the local professional basketball team plays. In addition to basketball games,...
-
The 32 members of the Greeley High chess team are going to have a tournament. They need to decide whether to have a round-robin tournament or an elimination tournament. (Read the Recreation...
-
Develop the parametric equations of a hyperbola by following these steps. a. Write the equation of a unit hyperbola in standard form using x and y. b. Replace x with 1 / cos t and solve for y in...
-
The SM charts for two linked state machines are given in the following diagram. (a) Complete the timing diagram shown here. (b) For the SM chart on the left, make a one-hot state assignment and...
-
Uranium price breaches US$60 a pound as demand outstrips supply By Tim Tread gold, September 7, 2023 It's getting harder by the day to ignore the uranium revival as the price breaches the US$60 lev?
-
If a consumer reallocates their spending to purchase more of a good whose marginal utility is higher than its price, what is likely to happen?
-
If you do not currently have a retirement account, what type of investment plan(s) will you use for your retirement savings (e.g., stocks, bonds, ETFs, mutual funds, or other)? Why did you choose...
-
On 1 July 2 0 1 9 Melissa acquired an antique Camel statue for $ 3 0 0 which she kept in the hallway of her house. 0 1 December 2 0 2 0 she sold it for $ 4 , 3 0 0 Required Calculate the Net Capital...
-
How the Federal Reserve Implements Monetary Policy? describes how the Fed can use its tools to achieve its dual mandate?
-
Prepare journal entries for the following transactions from School Mart. Mar. 6 Mar. 8 Mar. 11 Mar. 14 Sold 1,000 pencil packages with a sales price of $5.72 per package to customer Sonia Norris....
-
For the following exercises, find the inverse of the function and graph both the function and its inverse. f(x) = 4 x 2 , x 0
-
Decide whether each subset of R3 is linearly dependent or linearly independent. (a) (b) (c) (d) 4 3 5 277 104 00-I 221 4 5 20 990
-
Which of these subsets of P3 are linearly dependent and which are independent? (a) {3 - x + 9x2, 5 - 6x + 3x2, 1 + 1x - 5x2} (b) {-x2, 1 + 4x2} (c) {2 + x + 7x2, 3 - x + 2x2, 4 - 3x2} (d) {8 + 3x +...
-
Determine if each set is linearly independent in the natural space. (a) (b) {(1 3 1), (-1 4 3), (-1 11 7)} (c) 0 120 04 0 0 2 1
-
Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 18,000 28,000 300,000 450,000 York's outstanding stock consists of 80,000 shares of...
-
Due to erratic sales of its sole product-a high-capacity battery for laptop computers-PEM, Incorporated, has been experiencing financial difficulty for some time. The company's contribution format...
-
Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Y7 20Y6 Cost of goods sold $3,864,000 $4,001,500...
Study smarter with the SolutionInn App