Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. laura and martin obtain a 20-year, $90,000 convent

Laura and Martin obtain a 20-year, $90,000 conventional mortgage at 10.0% on a house selling...

50.1K

Verified Solution

Question

Basic Math

image

Laura and Martin obtain a 20-year, $90,000 conventional mortgage at 10.0% on a house selling for $110,000. Their monthly mortgage payment, including principal and nterest, is $869.40. Determine the total amount they will pay for their house.b) How much of the cost will be interest?c) How much of the first payment on the mortgage is applied to the principal?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

For polymer structure analysis with purposes given below; how microscopy (light and/or electron) can be used?...

General Management
1.2K views

Which of the following best describes advertisements? A. Advertisements never justify purchasing something—they are simply written to...

Biology
1.2K views

6 What role did the Committee on Public Information play during World War I What...

Biology
1.2K views

Which stage s of eukaryotic cellular respiration is are impacted by cyanide poisoning Impacted photosynthesis...

Biology
1.2K views

In conclusion the stay apparatus in horse legs showcases the remarkable adaptability of these majestic...

Physics
1.2K views

Energy stored in an inductor of inductance L will be is current O 2 LR...

Physics
1.2K views

Heat supplied Heat supplied 16 Steam at 100 C is passed into 1 1 kg...

Geometry
1.2K views

B D 98 The measure of arc AB is The measure of angle AOB is...

Calculus
1.2K views

Ignoring the constant of integration integrating the right side gives Part 4 of 5 We...

Accounting
1.2K views

On October 1,2021 , the Allegheny Corporation purchased equipment for $115,000. The estimated service life...

Accounting
1.2K views

Hutto Corp, has set the following standard direct materials and direct labor costs per unit...

Accounting
1.2K views

Exercise 2-14A (Algo) Recognizing accrued interest expense LO 2-5 Leach Company borrowed $120,000...