Amortgage of $30000 is borrowed over 25 years at 12% interest. this loan is repaid by regular instalments at the end of every month. how much should each instalment be?

This requires the mortgage formula for the monthly payment, as follows:

Monthly Payment Amount

=

where

P=present value (borrowed amount) = 30000

i=interest per period = 0.12/12 = 0.01 per month

n=number of periods (months) = 25*12 = 300 months

Evaluating,

Monthly payment

=P*(i*(1+i)^n)/((1+i)^n-1)

=30000*(0.01*(1+0.01)^300)/((1+0.01)^300-1)

=315.97

28

step-by-step explanation:

8+8+6+6

hello from mrbilldoesmath!

answer:

the domain is the set { -2, 0, 2, 3}

discussion:

the domain is the set of x values in the ordered pairs (x,y). taking the x, or first component, of each ordered pair gives   -2, 0, 2, 3.

you,

mrb