Mathematics, 06.10.2019 16:30 harmonytaylor13

Cliff branch bought a home with a 10.5% adjustable rate mortgage for 30 years. he paid $9.99 monthly per thousand on his original loan. at the end of 3 years he owes the bank $65,000. since interest rates have risen to 12.5%, the bank will renew the mortgage at this rate, or cliff can pay the bank $65,000. he decides to renew and will now pay $10.68 monthly per thousand on his loan. (you can ignore the small amount of principal paid during the 3 years.)

what was the old monthly payment?

what is the new monthly payment?

what is the percent increase in his monthly payment (to the nearest tenth)?

Answers: 1

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 15:10, laneake96

Julia chooses a card at random from her set of cards. what is the probability that the card is labeled cat or hamster?

Answers: 2

continue

Mathematics, 21.06.2019 17:50, kayleewoodard

Eric has challenged himself to walk 24,000 steps in 4 days. if eric walks the same number of steps each day, which function represents the number of steps eric still needs to walk to reach his goal with respect to the number of days since he started his challenge? a. y = 8,000x − 24,000 b. y = -8,000x + 24,000 c. y = 6,000x − 24,000 d. y = -6,000x + 24,000

Answers: 1

continue

Mathematics, 21.06.2019 18:30, luis9527

Given the equation f(x)=a(b)x where the initial value is 40 and the growth rate is 20% what is f(4)

Answers: 1

continue

Mathematics, 21.06.2019 18:30, bryantnaomi6

Which one is true about the hexagons ?

Answers: 3

continue

You know the right answer?

Cliff branch bought a home with a 10.5% adjustable rate mortgage for 30 years. he paid $9.99 monthly...