Posted by **k** on Thursday, March 21, 2013 at 1:26pm.

Oprah Winfrey ha closed on a 42- acre estate near Santa Barbara California for $50,000,000 If Oprah puts down 20% down and finances at 7% for 30 years what would be her monthly pay payment.

- business math -
**MathMat**, Thursday, March 21, 2013 at 1:54pm
So first 50000000 times .8 which is the opposite of 20% which gives you your first answer of 40 million left over. The equation for the interest after this is 40000000(0.7^30)

- business math -
**Steve**, Thursday, March 21, 2013 at 3:15pm
M = Pr/(1-(1+r)^-n)

= 40,000,000*(.07/12)/(1-(1+.07/12)^(-12*30))

= 266121

## Answer This Question

## Related Questions

- English - the Oprah Winfrey Show -------------------- Q: How do you pronounce "...
- English - Oprah Winfrey ======== How do you pronounce "Oprah"? 1. 'oupr... 2. '...
- English - 1. As for Mattie's third wish, Oprah Winfrey asked Mattie to appear on...
- MATH - Five years ago, you bought a house for $151,000, with a down payment of $...
- Algebra: Statistics - Five years ago, you bought a house for $151,000, with a ...
- Math - Shantle and Kwamie are planning to buy their first home. Although they ...
- finance - You take out a 30- yr mortgage loan, purchase price is $120,000 put $...
- Math - You wish to purchase a house for $200,000 with 20% down. You will have it...
- math math :( - A couple finances a house valued at $125,000. They make a $20,000...
- math so confusing plz help - couple finances a house valued at $150,000. They ...

More Related Questions