The price of a condominium is $152,000. The bank requires a 5% down payment and one point at the time of closing. The cost of the condominium is financed with a 30-year fixed-rate mortgage at 7%. Use the following formula to determine the regular payment amount. Complete parts (a) through (e) below. PA PMT= -nt7 $ 1444 (Round to the nearest dollar as needed.) ... d. Find the monthly payment (excluding escrowed taxes and insurance). $ 961 (Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years. S Clear
The price of a condominium is $152,000. The bank requires a 5% down payment and one point at the time of closing. The cost of the condominium is financed with a 30-year fixed-rate mortgage at 7%. Use the following formula to determine the regular payment amount. Complete parts (a) through (e) below. PA PMT= -nt7 $ 1444 (Round to the nearest dollar as needed.) ... d. Find the monthly payment (excluding escrowed taxes and insurance). $ 961 (Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years. S Clear
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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