Saturday

April 18, 2015

April 18, 2015

Posted by **Roxana** on Thursday, August 25, 2011 at 6:26pm.

- MATH -
**Henry**, Friday, August 26, 2011 at 3:28pm% Financed = 100% - 18% = 82%.

Amt. Financed = $24,000 * 0.82 = $19,680.

Pt = Po*r*t / (1 - (1+r)^-t).

r = 4.5% / 12 = 0.375% = 0.00375 = Monthly % rate expressed as a decimal.

Pt=(19680*0.00375*36)/(1-(1.00375)^-36,

Pt=2656.80 / 0.126063452 = $21,075.10.

Int.=Pt - Po=21075.10 - 19680=$1395.10

Monthly Payments=21,075.10 / 36 = $585.42.

**Answer this Question**

**Related Questions**

Maths - In order to make some home improvements, a home owner spent $40,000. He ...

math - A carpenter spent $4500 to purchase a table saw , a circular saw, and a ...

Math - The price of a home is $185,000. A down payment of 10% is required with ...

Algebra - A $130,000 home bought with a 20% down payment and the balance ...

MORTGAGE - Find the monthly payment for the loan. (Round your answer to the ...

Math - 4. Vanna has just financed the purchase of a home for $200 000. She ...

algebra - Find the monthly payment for the loan. (Round your answer to the ...

Algebra - Question Part Points Find the monthly payment for the loan. (Round ...

Math - Jennifer has a 60-month fixed installment loan, with a monthly payment of...

math - The price of a home is $215,000. The Bank requires 20% down payment and ...