You buy a $475,000 house and put 15% down. If you take a 20 year amortization and the rate is 2.34%, what would the monthly payment be?

Name: Solved: You buy a $475,000 house and put 15% down. If you take a 20 year amortization and the rate is 2.34%, what would the monthly payment be? - MathMaster
Brand: MathMaster
Rating: 4.9 (183 reviews)

183

likes

917 views

Answer to a math question You buy a $475,000 house and put 15% down. If you take a 20 year amortization and the rate is 2.34%, what would the monthly payment be?

$Expert avatar$

Ali

4.4

92 Answers

PMT =\frac{475000\times85\%\times\frac{2,34\%}{12}}{1-\left(1+\frac{2,34\%}{12}\right)^{-12\ fois20}}=2108,15

Frequently asked questions (FAQs)

What is the maximum or minimum value of the function f(x) = 2x^3 - 7x^2 + 5x - 3 over the interval [-5, 5]?

What is the surface area of a rectangular prism with length 4 cm, width 6 cm, and height 8 cm?

What is the maximum number of books that can be stacked on top of each other without falling, if each book is 1 inch thick and the height of the stack cannot exceed 15 feet?

New questions in Mathematics

How to find the value of x and y which satisfy both equations x-2y=24 and 8x-y=117

what is 3% of 105?

The profit G of the company CHUNCHES SA is given by G(x) = 3×(40 – ×), where × is the quantity of items sold. Find the maximum profit.

A company is wondering whether to invest £18,000 in a project which would make extra profits of £10,009 in the first year, £8,000 in the second year and £6,000 in the third year. It’s cost of capital is 10% (in other words, it would require a return of at least 10% on its investment). You are required to evaluate the project.

6. Among 100 of products there are 20 rejects. We will randomly select 10 of products. The random variable X indicates the number of rejects among the selected products. Determine its distribution.

An electrical company manufactures batteries that have a duration that is distributed approximately normally, with a mean of 700 hours and a standard deviation of 40 hours. Find the probability that a randomly selected battery has an average life of less than 810 hours.

Answer the following questions regarding the expression below. 0.1 (a) Write the number as a fraction.

The actual length of an object is 1.3 m . If the blueprint uses a scale of 1 : 12 , what is the length of the line on the drawing?

Identify a pattern in the list of numbers.Then use this pattern to find the next number. 37,31,25,19,13

Let f(x) = x² − 1. Find the equation of the tangent line to the graph of f at the point x0 = 2.

3. A rock is dropped from a height of 16 ft. It is determined that its height (in feet) above ground t seconds later (for 0≤t≤3) is given by s(t)=-2t2 + 16. Find the average velocity of the rock over [0.2,0.21] time interval.