1. jack and jill purchased a $125,000 house making a 20% down payment and paying the closing
costs up front, and financing the rest. their 15 year mortgage rate is 3.25%. calculate the
monthly mortgage payment. (principle and interest only.)

The month payment amount is $897.589

Interest amount is $61,566

Step-by-step explanation:

Given as :

The price of the house = $125,000

The down payment amount for house = 20% of total price

i.e The down payment amount for house = 20% × $125,000

Or, The down payment amount for house = × $125,000

Or, The down payment amount for house = $25,000

Now, Balance amount = total price - down payment

Or, Balance amount = $125,000 - $25,000

Or, Balance amount = $100,000

So, The balance amount is bring finance

The finance principal amount = p = $100,000

The rate of interest applied = r = 3.25%

The time period of mortgage = t = 15 years = 15 × 12 = 180 months

Let The Amount of mortgage after 15 years = $A

From Compound Interest method

Amount = Principal ×

Or, A = p ×

Or, A = $100,000 ×

Or, A = $100,000 ×

Or, A = $100,000 × 1.61566

Or, A = $161,566

So,The Amount of mortgage after 15 years = $161,566

Interest applied = Amount - principal

Or, I = $161,566 - $100,000

∴ Interest = $61,566

Again

The month payment amount =

i.e The month payment amount =

Or, The month payment amount = $897.589

Hence The month payment amount is $897.589 and interest amount is $61,566  . Answer

simplifying

5(x + -6) = 2(x + 3)

reorder the terms:

5(-6 + x) = 2(x + 3)

(-6 * 5 + x * 5) = 2(x + 3)

(-30 + 5x) = 2(x + 3)

reorder the terms:

-30 + 5x = 2(3 + x)

-30 + 5x = (3 * 2 + x * 2)

-30 + 5x = (6 + 2x)

solving

-30 + 5x = 6 + 2x

solving for variable 'x'.

move all terms containing x to the left, all other terms to the right.

add '-2x' to each side of the equation.

-30 + 5x + -2x = 6 + 2x + -2x

combine like terms: 5x + -2x = 3x

-30 + 3x = 6 + 2x + -2x

combine like terms: 2x + -2x = 0

-30 + 3x = 6 + 0

-30 + 3x = 6

add '30' to each side of the equation.

-30 + 30 + 3x = 6 + 30

combine like terms: -30 + 30 = 0

0 + 3x = 6 + 30

3x = 6 + 30

combine like terms: 6 + 30 = 36

3x = 36

divide each side by '3'.

x = 12

simplifying

x = 12

this should .

$3,200 x 7.25% = $3,200 x .0725 = $232 interest monthly

$232 monthly x 12 annual = $2, 784

step-by-step explanation: