Monday

July 28, 2014

July 28, 2014

Posted by **Torra** on Wednesday, November 23, 2011 at 6:05pm.

Steps or examples please

- algebra -
**Reiny**, Wednesday, November 23, 2011 at 8:30pm"..the monthly cost to finance $1,000 is $6.00"

I read that to say that the monthly rate of interest is .006

after downpayment you are left with 315000 to mortgage

let the payment be P

315000 = P(1 - 1.006^-360)/.006

I get P = $2138.18

- algebra -
**Torra**, Saturday, November 26, 2011 at 5:14pmThanks. But I am trying to figure out how did you get $2138.18 I did the calculations but I do not come up with your answer.

**Related Questions**

algebra with application - Suppose that you want to purchase a home for $450,000...

algebra with application - Suppose that you want to purchase a home for $450,000...

ALGEBRA - Suppose that you want to purchase a home for $450,000 with a 30 year ...

Math - Suppose that you want to purchase a home for $450,000 with a 30 year ...

math - Suppose that you want to purchase a home for $450,000 with a 30 year ...

Please Help - Suppose that you want to purchase a home for $450,000 with a 30 ...

math - Suppose that you want to purchase a home for $450,000 with a 30 year ...

math - Suppose that you want to purchase a home for $450,000 with a 30 year ...

Finance - Suppose that you want to purchase a home for $450,000 with a 30 year ...

financial management - suppose you purchase a home for $150,000.and obtain a 90...