Mathematics, 05.05.2020 11:43, jadbaubl1449

Jim Tree bought a home with a 10% adjustable rate mortgage for 20 years. He paid $9.66 monthly per thousand on his original loan. At the end of 2 years he owes the bank $55,000. Since interest rates have risen to 12%, the bank will not renew the mortgage at this rate, or Jim can pay the bank $55,000. He decides to renew and will now pay $11.02 monthly per thousand on his loan. For comparison purposes the small amount of principal that has been paid during the 2 years can be ignored.

Old monthly payment =
New monthly payment =
Percent increase in monthly payment (to nearest tenth) =

Answers: 2

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 15:30, hfleysher

Each of the four sides of a swimming pool measures 9 meters. the pool is 5 meters deep. how much water will be needed to fill it completely? a. 45 cubic meters b. 81 cubic meters c. 225 cubic meters d. 405 cubic meters reset next

Answers: 1

continue

Mathematics, 21.06.2019 19:00, libi052207

Use the quadratic formula to solve the equation. if necessary, round to the nearest hundredth. x^2 - 8 = -6x a. –7.12, 1.12 b. 7.12, –1.12 c. 7.12, 1.12 d. –7.12, –1.12

Answers: 2

continue

Mathematics, 21.06.2019 19:00, cassie2021

What are the solutions of the equation? 5z^2 + 9z - 2 = 0 a. 1, -2 b. 1, 2 c. 1/5, -2 d. 1/5, 2

Answers: 2

continue

Mathematics, 21.06.2019 20:30, aavil5659

Clarence wants to buy a new car. he finds an ad for a car that costs 27,200 dollars. suppose his local sales tax is 7%. -how much would he have to pay? -what is the cost of the car including tax? -if clarence has 29,864 saved, can he pay cash to buy the car?

Answers: 1

continue

Do you know the correct answer?

Jim Tree bought a home with a 10% adjustable rate mortgage for 20 years. He paid $9.66 monthly per t...