![Mathematics](/tpl/images/cats/mat.png)
Mathematics, 18.01.2022 01:40, shelbie76
Sophie is planning to buy a house. She needs to take out a mortgage for 120000
She is considering two possible options.
Option 1: Repay the mortgage over 20 years, at an annual interest rate of 5%,
compounded annually.
Option 2: Pay $1000 every month, at an annual interest rate of 6%, compounded
annually, until the loan is fully repaid.
Calculate the monthly repayment using option 1.
[2 marks]
Calculate the total amount Sophie would pay, using option 1.
[2 marks]
Calculate the number of months it will take to repay the mortgage using [3 marks]
ption 2
Il
![answer](/tpl/images/cats/otvet.png)
Answers: 1
Other questions on the subject: Mathematics
![image](/tpl/images/cats/mat.png)
Mathematics, 21.06.2019 17:30, Jcmandique3444
Consider the graph of the exponential function y=3(2)×
Answers: 1
![image](/tpl/images/cats/mat.png)
Mathematics, 21.06.2019 19:00, jthollis1348
Find the y-intercept and x-intercept for the equation 5x-3y=60 what is the y-intercept
Answers: 1
![image](/tpl/images/cats/mat.png)
![image](/tpl/images/cats/mat.png)
Mathematics, 21.06.2019 20:00, arianaaldaz062002
If the simple annual interest rate on a loan is 6, what is the interest rate in percentage per month?
Answers: 1
Do you know the correct answer?
Sophie is planning to buy a house. She needs to take out a mortgage for 120000
She is considering...
Questions in other subjects:
![Konu](/tpl/images/cats/mat.png)
Mathematics, 15.10.2020 02:01
![Konu](/tpl/images/cats/himiya.png)
![Konu](/tpl/images/cats/en.png)
English, 15.10.2020 02:01
![Konu](/tpl/images/cats/health.png)
![Konu](/tpl/images/cats/istoriya.png)
![Konu](/tpl/images/cats/en.png)
![Konu](/tpl/images/cats/mat.png)
Mathematics, 15.10.2020 02:01
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 15.10.2020 02:01
![Konu](/tpl/images/cats/User.png)
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 15.10.2020 02:01