g Judy recently purchased her first home for $220,000. She made a down payment of $20,000, and financed the balance over 15 years, at 9% interest. If Judy's first payment is due on October 1 of this year, approximately how much interest will she pay in this year

interest paid this year = $1,320

Explanation:

First of all, let us calculate the dollar value of the interest on the loan.

interest rate in percentage = 9% of $220,000

∴ interest in dollars = 9/100 × 220,000

= 0.09 × 220,000 = $19,800

Next, we are told that the loan was financed over 15 years. Assuming that Judy paid the interest equally over the 15 years, we will simply divide the total interest by 15, to get the interest for each year (including this year):

interest this year = 19,800 ÷ 15 = $1,320

Therefore interest paid this year = $1,320

the answers are

a, b, c, & e.

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.