Your parents are buying a house for $180,000. They have a good credit rating, are making a 20% down payment, and expect to pay $1,500/month. The interest rate for the mortgage is 4%. What must their realized income be before each month and how much interest is accrued at the end of the second month?

Question

anonymous · Answer

Your parents are buying a house for $180,000. They have a good credit rating, are 
making a 20% down payment, and expect to pay $1,500/month. The interest rate for the motrgage is 4%. What must their realized income be before each month and how much interest is accrued at the end of the second month?

aaronq · Answer

lol this is clearly thermodynamics..

anonymous · Answer

thermodynamics ?

aaronq · Answer

well you posted this in the thermo section ...

anonymous · Answer

do you still need help? this should be in the mathematics section