Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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### Mortgage Calculation Example

A house sells for $165,000 and a 15% down payment is made. A mortgage was secured at 4.7% for 30 years. Round to the nearest cent, if necessary.

#### Part 1 of 4

**Find the down payment.**

- **The down payment is $24,750.**

#### Part 2 of 4

**Find the amount of the mortgage.**

- **The amount of the mortgage is $140,250.**

#### Part 3 of 4

**Find the monthly payment.**

- The monthly payment field is not filled in for this example.
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Transcribed Image Text:### Mortgage Calculation Example A house sells for $165,000 and a 15% down payment is made. A mortgage was secured at 4.7% for 30 years. Round to the nearest cent, if necessary. #### Part 1 of 4 **Find the down payment.** - **The down payment is $24,750.** #### Part 2 of 4 **Find the amount of the mortgage.** - **The amount of the mortgage is $140,250.** #### Part 3 of 4 **Find the monthly payment.** - The monthly payment field is not filled in for this example.
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