Don is buying a home for $190,300. he is making a 30% down payment and financing the rest with a 15-year loan at 5.75% interest. what will his monthly mortgage payment be?
a. $1106.18
b. $1124.16
c. $1304.28
d. $1580.25

Option A- $1106.18.

Step-by-step explanation:

Given : Don is buying a home for $190,300. He is making a 30% down payment and financing the rest with a 15-year loan at 5.75% interest.

To find : What will his monthly mortgage payment be?

Solution :

There is a 30% down payment

So, Amount financing

Formula of monthly payment  :

Monthly payment,  

Discount factor  

Where, Amount = $133210

Rate r= 5.75%=0.0575

Time = 15 years  

Now, put all the values we get,  

Monthly payment,  

Therefore, Option A is correct.

The Monthly payment is $1106.18.

x coordinate can be written by using the formula, x= x1 + 2/5(x2 - x1)

step-by-step explanation:

formula

x = x1 + p/w(x2 - x1)

let the line segment ab with a(x1,y1) and b(x2,y2)

a point(x,y) divide ab in the ratio, 2: 3 the x coordinate can be written as

x = x1 + p/w(x2 - x1)

here p=2 and w = 2+3

therefore,

x coordinate can be written by using the formula, x= x1 + 2/5(x2 - x1)

similarly y coordinate y = y1 + 2/5(y2 - y1)