Question #1 - a new housing development offers homes with a mortgage of $222,000 for 25 years at an annual interest of 8%. find the monthly mortgage payment.

question #2 - a chevrolet was purchased for $23, 750 and a 20% down payment was made. find the amount financed

monthly mortgage payment is $1713.42 per month

so amount financed = $19,000  

Step-by-step explanation:

given data

principal = $222,000

time = 25 year

annual interest rate = 8%

purchased = $23,750

down payment = 20%

to find out

monthly mortgage payment and amount financed

solution

first we get here monthly mortgage payment that is express a s

monthly mortgage payment = principal ×   ....................1

here r is rate per month = and t is time = 12 ×  25 = 300 months

so put here value we get

monthly mortgage payment = principal ×

monthly mortgage payment = 222000 ×

monthly mortgage payment = $1713.432007

monthly mortgage payment is $1713.42 per month

and

we know  20% is down payment

so financed is = 100 - 20 = 80%

amount financed will be

amount financed = 80% × $23750

so amount financed = $19,000  

arrange the equations with like terms in columns.

analyze the coefficients of x or y.

add the equations and solve for the remaining variable.

substitute the value into either equation and solve.

check the solution.

step-by-step explanation:

see explanation

step-by-step explanation:

a

(6r + 7) + (13 + 7r) ( remove brackets and collect like terms )

= 6r + 7 + 13 + 7r

= 13r + 20

b

remove brackets and collect like terms

13 - r - 1 + r

= 12 - r

c

remove brackets and collect like terms

= - 8 - r + 2r - 4

= - 12 + r

d

remove brackets and collect like terms

= 7r - - - 6r

[-   - = - - = - ]

= r -