Julio just bought a $267,900 house. he had a 20 year mortgage with a fixed rate of 5.875%. julio’s monthly payments are $1,558.09. what percent of the purchase price was julio’s down payment? a. 13% b. 15% c. 18% d. 20%

P = {(rM)/ [1 – (1 +r/n)^(-nt)]}/n

where P = the payment, r = the annual rate, M = the mortgage amount, t = the number of years, and n = the number of payments per year.

Since we are given the payment, annual rate, number of years, and number of payement per year so we need to calculate first the mortgage amount M

1558.09 = {(0.05875*M)/ [1 – (1 +0.05875/12)^(-12*20)]}/12

Solving for M

M = $ 219684.92

To solve the downpayment

D = 267900 – 21964.92 = $ 48125.08

Solving for the purchase price

T = 1558.09*12*20 = $373941.6

%D = ($ 48125.08/$373941.6)*100 = 12.89 % about 13%

the answer is c

Step-by-step explanation:

total amount of money that he should pay if he has not used his duty free exemption is $98

step-by-step explanation:

given a united states citizen returning to the states declares the following items at the customs office: 3 shirts at $8.50 each 2 dresses at $27.50 each 1 pair of gold cuff links at $17.50 per pair. we have to find how much he pay

cost of 3 shirts if one cost at $8.50 is

cost of 2 dresses if one cost at $27.50 is  

cost of 1 pair of gold cuff at $17.50

so, total amount of money that he should pay if he has not used his duty free exemption is   $25.5+$55+$17.50=$98

35 is an outlier

step-by-step explanation: