Try this find the amount of a 25-year mortgage at 4.2% interest compounded monthly where the monthly payment is $457.06 (do not round until the final answer. then round to the nearest dollar as needed.)

$84,807

Step-by-step explanation:

The appropriate amortization formula is ...

... A = P(r/n)/(1 - (1 +r/n)^(-nt))

where A is the monthly payment, P is the principal amount of the loan (which we want to find), r is the annual interest rate, n is the number of compounding periods per year, and t is the number of years.

Putting the given information into the formula, we have ...

... 457.06 = P(0.042/12)/(1 -(1 +0.042/12)^(-12·25))

... = P·0.00538942318

Then ...

... P ≈ 457.06/0.00438942318 ≈ 84,806.849

Rounded to the nearest dollar, that is ...

... P ≈ $84,807

nlgqer

step-by-step

step-by-step explanation:

two pairs of adjacent sides are of equal length. this implies that one diagonal divides the kite into congruent triangles, and so the angles between the two pairs of equal sides are equal in measure. it also implies that the diagonals are perpendicular.