The cost to purchase the house that Bainters are considering is $195, 000, but the Bainters plan to make a $40,000 down payment. The Bainters have been approved for a fixed-rate, 30-year mortgage with a 4.2% annual interest rate for the remaining costs. What is the monthly payment for the loan? O$953.58 O $141.53 $757.98 O $689.96
The cost to purchase the house that Bainters are considering is $195, 000, but the Bainters plan to make a $40,000 down payment. The Bainters have been approved for a fixed-rate, 30-year mortgage with a 4.2% annual interest rate for the remaining costs. What is the monthly payment for the loan? O$953.58 O $141.53 $757.98 O $689.96
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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O $953.58
PlanetMath
O $141.53
● $757.98
$689.96
2
The cost to purchase the house that Bainters are considering is
$195, 000, but the Bainters plan to make a $40, 000 down payment.
The Bainters have been approved for a fixed-rate, 30-year mortgage
with a 4.2% annual interest rate for the remaining costs.
What is the monthly payment for the loan?
3
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OM=
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2
The cost to purchase the house the Bainters are considering is
$195, 000, but the Bainters plan to make a $40, 000 down payment.
The Bainters have been approved for a fixed-rate, 30-year mortgage
with a 4.2% annual interest rate for the remaining costs.
3
Grades 7
What is the correct equation to determine the monthly payments of the
loan?
40,000(0.042)
30[1−(1+ 0.042 )−(30)(12)
30
1 of 4
195,000(0.042)
195,000(0.042)
30[1−(1+ 0.042 )−(30)(12)}]
30
155,000(0.042)
12[1−(1+ 0.042 )−(12)(30)]
12
0.042
12[1-(1+
12
Strong Minded
4
)-(12)(30)
>
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OM=
PlanetMath
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2
The cost to purchase the house the Bainters are considering is
$195, 000, but the Bainters plan to make a $40, 000 down payment.
The Bainters have been approved for a fixed-rate, 30-year mortgage
with a 4.2% annual interest rate for the remaining costs.
3
Grades 7
What is the correct equation to determine the monthly payments of the
loan?
40,000(0.042)
30[1−(1+ 0.042 )−(30)(12)
30
1 of 4
195,000(0.042)
195,000(0.042)
30[1−(1+ 0.042 )−(30)(12)}]
30
155,000(0.042)
12[1−(1+ 0.042 )−(12)(30)]
12
0.042
12[1-(1+
12
Strong Minded
4
)-(12)(30)
>
Modules
Syllabus
Course Evaluation
Submit
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