This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a ... (Read 71 times)

TFauchery

  • Hero Member
  • *****
  • Posts: 500
on: Feb 2, 2020

Question 1

Use  PMT =  to determine the regular payment amount, rounded to the nearest dollar.

In terms of paying less in interest over the full term of the mortgage, which is more economical for a   mortgage : 30-year fixed at 7.00% or 20-year fixed at 6.50%?
◦ The 20-year fixed rate at at 6.50% is more economical.
◦ They are the same.
◦ The 30-year fixed rate at at 7.00% is more economical.

Question 2

Use  PMT =  to determine the regular payment amount, rounded to the nearest dollar.

The price of a home is $330,000. The bank requires a 5% down payment. After the down payment, the balance is financed with a 20-year fixed-rate mortgage at 8%. Determine the monthly mortgage payment (excluding escrowed taxes and insurance) to the nearest dollar.
◦ $2610
◦ $2722
◦ $2637
◦ $2622
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by TFauchery on Feb 2, 2020

cswans24

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Feb 2, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 32% of students answer this correctly


TFauchery

  • Member
  • Posts: 500
Reply 2 on: Feb 2, 2020
Gracias!

scikid

  • Member
  • Posts: 300
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Water amount needed to grow crops Water amount needed to grow crops
If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle
The amount of genetic variation within populations is far greater than the variation between populat The amount of genetic variation within populations is far greater than the variation between populat
How to calculate the DRT to determine which is more effective against the pathogen How to calculate the DRT to determine which is more effective against the pathogen
A promissory note for $600.OO dated January 15, 2017. requires an interest payment of $120 00 ... A promissory note for $600.OO dated January 15, 2017. requires an interest payment of $120 00 ...
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Simple and Double Sugar

For a complete list of videos, visit our video library