Consider a home mortgage of $225,000 at a fixed apr of 4.5 % for 30 years. a. calculate the monthly payment. b. determine the total amount paid over the term of the loan. c. of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.

The formula for the monthly payment.....

, where P = the principal amount, r = the monthly interest rate and n = the total number of months.

Here annual interest rate is given as 4.5%

So, the monthly interest rate

Total number of months

Also given that, the principal amount is $225000

a.  So, the monthly payment will be.....

Thus, the monthly payment will be approximately $1140

b. The total amount paid over the term of the loan will be:

c.   As the principal amount was $225000 , so the amount of interest

So, the percentage of amount that is paid toward the principal

and the percentage of amount that is paid toward the interest

connie < felicia < stew

step-by-step explanation:

stew:

we need to find the slope

m = (y2-y1)/ (x2-x1)

    = (2650-795)/(10-3)

    = 1855/7

265 words per minute

connie:

we need to find the slope

m = (y2-y1)/ (x2-x1)

we have two points (0,0) and (4,800)

m = (800-0)/(4-0)

  m = 800/4

    200 words per minute

felicia:

260 words per minute

200< 260 < 265

connie < felicia < stew

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step-by-step explanation:

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