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 197 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
Excellent

apple

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Both the top and bottom pattern have the same frequency. However, the amount of on-time varies. Both the top and bottom pattern have the same frequency. However, the amount of on-time varies.
Superficial lymph drainage pathways or watersheds determine the direction of lymphatic facilitation ... Superficial lymph drainage pathways or watersheds determine the direction of lymphatic facilitation ...
Regular Ways to Fold the Polypeptide Chain Regular Ways to Fold the Polypeptide Chain
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
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
Video: The Krebs Cycle Animation

For a complete list of videos, visit our video library