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15 a newly married couple purchased a home with a 123710 down payment they financed the remaining balance of the home with

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15.A newly married couple purchased a home with a $123710 down payment. They financed the remaining balance of the home with a mortgage. Their payments were $15395 at the end of every six months for 23 years and the interest rate was 10.6%, compounded semi-annually. How much did they purchase their home for. Enter to the nearest cent (two decimals). Do not use $ signs or commas in the answer.

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Answer to a math question 15.A newly married couple purchased a home with a $123710 down payment. They financed the remaining balance of the home with a mortgage. Their payments were $15395 at the end of every six months for 23 years and the interest rate was 10.6%, compounded semi-annually. How much did they purchase their home for. Enter to the nearest cent (two decimals). Do not use $ signs or commas in the answer.

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62 Answers

15395\times\frac{1-\left(1+\frac{10.6\%}{2}\right)^{-2\times23}}{\frac{10.6\%}{2}}+123710=387179.52

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