MyraY560194 MyraY560194

26-10-2022
Mathematics

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if the yang family chooses the 30-year mortgage how much will they be able to borrow

if the yang family chooses the 30year mortgage how much will they be able to borrow class=

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KantaQ401664 KantaQ401664

26-10-2022

If 30 years mortage is choosen

A=810

i = 3.14% p.a. = 0.2617% per month

n=30years=360 months

Borrowing amount=p

P=A(p|A,i,n)

put the values

P=810(P|A,0.2617%,360)

p=810*232.984115

P=$188726.71

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