I GIVE MEDALS AND FAN!

The payment, P, at the annual rate, r, on the mortgage amount, M, that runs for t years is given by the formula https://wca.sooschools.com/media/g_alg02_ccss_2013/9/alg0 , where n is the number of payments per year.

1. What is the monthly payment on a house bought for $200,000 at 6.5% rate of interest for 30 years? Round your answer to the nearest whole number.
2. Kelly bought a house for $100,000 and pays the monthly payment of $800 at 8% rate of interest. How many months will it take Kelly to pay off her mortgage loan? Round your answer to the nearest whole

Question

I GIVE MEDALS AND FAN!



The payment, P, at the annual rate, r, on the mortgage amount, M, that runs for t years is given by the formula https://wca.sooschools.com/media/g_alg02_ccss_2013/9/alg0 , where n is the number of payments per year.

1. What is the monthly payment on a house bought for $200,000 at 6.5% rate of interest for 30 years? Round your answer to the nearest whole number.
2. Kelly bought a house for $100,000 and pays the monthly payment of $800 at 8% rate of interest. How many months will it take Kelly to pay off her mortgage loan? Round your answer to the nearest whole

anonymous · Answer

@midhun.madhu1987 Can you help?

midhun.madhu1987 · Answer

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i thinks so