Business, 14.07.2019 04:30 mariah10455
Jen purchased a condo in naples fl for $699,000. she put 20% down and financed the rest at 5% for 35 years. what are jen's total finance charges
Answers: 2
![\text{PV of annuity}=P\left[\dfrac{1-(1+r)^{-n}}{r}\right]](/tpl/images/0087/3513/09efe.png)
![\Rightarrow 559200=P\left[\dfrac{1-(1+\frac{0.05}{12})^{-420}}{\frac{0.05}{12}}\right]](/tpl/images/0087/3513/d0b49.png)
![\Rightarrow P=\dfrac{559200}{\left[\dfrac{1-(1+\frac{0.05}{12})^{-420}}{\frac{0.05}{12}}\right]}](/tpl/images/0087/3513/097df.png)
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Jen purchased a condo in naples fl for $699,000. she put 20% down and financed the rest at 5% for 35...
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