You can afford a $1100 per month mortgage payment. You've found a 30 year loan at 7% interest. a) How big of a loan can you afford? Round your answer to the nearest dollar. b) How much total money will you pay the loan company? Round your answer to the nearest dollar. c) How much of that money is interest? Round your answer to the nearest dollar. Submit Question
You can afford a $1100 per month mortgage payment. You've found a 30 year loan at 7% interest. a) How big of a loan can you afford? Round your answer to the nearest dollar. b) How much total money will you pay the loan company? Round your answer to the nearest dollar. c) How much of that money is interest? Round your answer to the nearest dollar. Submit Question
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 20E: Mortgage A couple can afford to make a monthly mortgage payment of $650. If the mortgage rate is 9%...
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You can afford a $1100 per month mortgage payment. You've found a 30 year loan at 7% interest.
a) How big of a loan can you afford? Round your answer to the nearest dollar.
b) How much total money will you pay the loan company? Round your answer to the nearest dollar.
c) How much of that money is interest? Round your answer to the nearest dollar.
Submit Question
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