A house sells for $165,000 and a 15% down payment is made. A mortgage was secured at 4.7% for 30 years. Round to the nearest cent, if necessary. Part 1 of 4 Find the down payment. The down payment is $24750 Alternate Answer: The down payment is $24,750. Part 2 of 4 Find the amount of the mortgage. The amount of the mortgage is $ 140,250 Part 3 of 4 Find the monthly payment. The monthly payment is $
A house sells for $165,000 and a 15% down payment is made. A mortgage was secured at 4.7% for 30 years. Round to the nearest cent, if necessary. Part 1 of 4 Find the down payment. The down payment is $24750 Alternate Answer: The down payment is $24,750. Part 2 of 4 Find the amount of the mortgage. The amount of the mortgage is $ 140,250 Part 3 of 4 Find the monthly payment. The monthly payment is $
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:### Mortgage Calculation Example
A house sells for $165,000 and a 15% down payment is made. A mortgage was secured at 4.7% for 30 years. Round to the nearest cent, if necessary.
#### Part 1 of 4
**Find the down payment.**
- **The down payment is $24,750.**
#### Part 2 of 4
**Find the amount of the mortgage.**
- **The amount of the mortgage is $140,250.**
#### Part 3 of 4
**Find the monthly payment.**
- The monthly payment field is not filled in for this example.
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