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  • Jul 7 2016 7-15 PM

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    23 views5 pages

    Jul 7 2016 7-15 PM

    Uploaded by

    api-265973204

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    Blt. Ryorioe fehl eSt~ alte Ticlede Lak . clits SD. College Math 1050 Mortgage Project Mathematics Deparenent Name. Ade allot 2 Due date:_ Cone, 23 Inthis project we will examine a home loan or mortgage. Assime {hat ie home forsale and have agreed to a purchase price of $201,000. Down Payment: You are going to make a 10% down payment on St Determine the amount of your down payment and the balance to finance. Down Paymenifp 20, {00 Mortgage Amount__ tpage Part I:_30 year Mortgage Monthly Payment: Calculate the monthly payment for a 30 year loan (rounding up to the nearest cent) by using the following formula. Show your work. [PMT is the monthly loan payment, P is the mortgage amount, r is the annual percent rate for the loan in decimal, and ¥ is ‘the number of years to pay off the loan.) For hes year toan ‘use an annual interest rate of Zee P (iz) PMT roa? Arturte.coar uctyat- caller) Show work here | 3 Pare Siero (SE) | SATs yA? ase) | = i938! wi OFFS PATH. 3S Monthly Payment fora 30 year mortgage

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