6. Monthly Mortgage payments can be found using the formula Below:
M-PG2)(1+1)"
(1+12"...
Mathematics, 29.04.2021 03:40 iikatreii
6. Monthly Mortgage payments can be found using the formula Below:
M-PG2)(1+1)"
(1+12"-1
M = monthly payment
P = amount borrowed
r=annual interest rate
n = number of monthly payments
The Ranallo family just bought a house. They qualified for an annual interest rate of 5.2% and their monthly payment
was $800 for a 30 year mortgage. Algebraically determine the amount of their loan to buy the house.
Answers: 1
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