Colinda has just purchased her first home for $125,000. she put down a 20 percent down payment of $25,000 and took out a 4 percent mortgage for the rest. her mortgage payment is $477 per month. how much of her first monthly mortgage payment is amortization?

The answer is $143.67

Step-by-step explanation:

Her mortgage is $125,000 minus the down payment of $25,000 or $100,000. The annual interest on a $100,000 mortgage at 4% is $4,000. This is equal to $4,000/12 = $333.33 per month. Her first monthly payment of $477 minus $333.33 equals $143.67 which is the amortization or the amount she pays above the interest which adds to her equity.

let y equal to

the total fare and x is the mile of taxi ride. so the equation is

y = 0.55x + 1.75

since susie has

$10 to spend for a taxi cab, so he can have

10 = 0.55x +

1.75

x = 15 miles of

taxi ride

so the system of

inequality is

10 < 0.55x +

1.75

x > 2

no

step-by-step explanation: