Bart Kelly bought a home with a 10% adjustable rate mortgage for 30 years. He paid $8.78 monthly per thousand on his original loan. At the end of 2 years he owes the bank $65,000. Since then interest rates have increased to 12.25%. The bank will renew the mortgage at this rate, or Bart can pay the bank $65,000. He decides to renew and will now pay $10.48 monthly per thousand on his loan. You can ignore the small amount of principal paid during the 2 years.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Bart Kelly bought a home with a 10% adjustable rate mortgage for 30 years. He paid $8.78 monthly per thousand on his original loan. At the ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A Store Sells 8-foot boards for 2.40 each. What is the cost per foot
Answers (2)
He net of a square pyramid is shown below. What are the possible areas for a single face in this net? Check all that apply.
Answers (1)
What is the best order-of-magnitude estimate for 58,100? a. 103 b. 104 c. 105 d. 106
Answers (1)
Raymond weighed his three dogs. The oldest dog weighs 74 pounds. The other two dogs each weigh 34 pounds. How many more pounds does the oldest dog weigh than the other two dogs combined?
Answers (2)
At midnight the temperature is - 6°C. At midday the temperature is 9°C. By how much did the temperature rise?
Answers (2)
New Questions in Mathematics
A population of 130,000 grows 4 % per year for 14 years. How much will the population be after 14 years?
Answers (1)
What is N = - 8 (25) + 200
Answers (1)
Rachel plays a game by rolling two number cubes with sides numbered 1 through 6. To win the game, the sum of the numbers facing up must be 11. What is the probability that Rachel will win the game? A=2/6 B=2/12 C=2/36 D=4/36
Answers (1)
Which of the following statements are true? Check all of the boxes that apply. fx=2^x has the same domain and range as Fx=^x Fx=-2^x has the same domain and range as fx=^x, fx=-^x has the same domain as fx=^x but a different range, fx=
Answers (1)
A company purchased a machine for $970,000. the machine has a useful life of 12 years and a residual value of $4,500. it is estimated that the machine could produce 1,000,000 units over its useful life. in the first year, 200,000 units were produced.
Answers (1)