The monthly mortgage payment on your house is $821.69. it is a 30 year mortgage at 6.5% compounded monthly. how much did you borrow? 1. $ 85,000 2. $100,000 3. $115,000 4. $130,000 5. $140,000

The formula for figuring the monthly payments on such a loan is

... A = P(r/12)/(1 -(1 +r/12)^(-12t))

where r is the annual interest rate (.065), P is the principal amount (we want to find), t is the number of years (30), and A is the monthly payment.

Filling in the given values, we have

... 821.69 = P(.065/12)/(1 - (1 +.065/12)^(-12*30)) = 0.00632068·P

Then the principal amount is

... P = 821.69/0.00632068 = 130,000.25

The most appropriate choice is ...

... 4. $130,000

hello i am doing good for you that it's summer in your country or state ; )

btw in my country we just have sun and rain as (because i live in the caribbean lol)

also, thx a lot for the points : )

exa:

)

3+11

14

step-by-step explanation:

from this example, we can see that subtracting with integers is the same as adding the opposite. we can solve using a number line or by using the saying "keep, change, change" to us solve. it is important to remember that we can subtract a negative and end up with a larger number than we started with.