Kate and ashton have been approved for a $150,000 30-year mortgage with an apr of 5.5%. how much is their monthly payment?

Their payment can be computed using the formula for amortization.

... A = P(r/12)/(1 -(1 +r/12)^(-12t)) . . . . where ...

... ... P is the principal amount of the loan, r is the annual rate, t is the number of years, A is the monthly payment.

Filling in your values, this becomes ...

... A = 150,000·(0.055/12)/(1 -(1 +.055/12)^(-360))

... A ≈ 851.68

Their monthly payment is $851.68.

system of linear equation

step-by-step explanation:

as given in the data

a= 20 , b= -12

let us suppose that it is a straight line equation

now we know the formula for the system of linear equation

b= ma + c )

here m is slope of a straight line which is equal to formula

m=   (ii)

and here c is a constant

now putting the value of a and b in equation (ii)

m=

m=

putting the value of a,b and m in equation (i) gives us

-12 = + c

-12=-12 + c

adding 12 to both sides

-12 +12 = -12 +12 +c

0 =c

or c=0

as the value of the constant is zero which gives us that it is a linear equation and this order pair satisfies the system of linear equations.