Posted by **Phoebe** on Wednesday, April 17, 2013 at 9:54pm.

Scott and Jen are looking at a house listed for 189000 dollars. They will qualify for a 6% interest rate if they have a 20% down payment. How much will the monthly payments be on a 15-year mortgage.I just don't understand what to do with the 20% down payment part please help me ASAP

- math -
**Phoebe**, Wednesday, April 17, 2013 at 10:15pm
PLEASE HELP ME!!!!!!!!!!!!!!!! PLEASE!!!!!!!!!!!!!!!!!!! URGENT MATH PROBLEM!!!!!!

- math -
**Reiny**, Wednesday, April 17, 2013 at 11:04pm
take 20% off the list price, assuming they paid it

leaving 170100

let the payment be P

i = .06/12 = .005

n = 15x12 = 180

170100 = P [ 1 - 1.005^-180]/.005

P = 1435.40

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