radomes.openskiesproject.org
IneedaTutor
IneedaTutor IneedaTutor
  • 17-02-2017
  • Mathematics
Answered

I need help with a quick question. Its posted below!

I need help with a quick question. Its posted below! class=

Verified Answer :

MissPhiladelphia
MissPhiladelphia MissPhiladelphia
  • 02-03-2017

Home price is $245,000. There is no down payment mentioned. 
I understand 20/4 as amortized over 20 years and balloon payment after 4 years.

Total cost would be =  Balloon payment + Total monthly payment 

4 years x 12 months = 48 months
Balloon payment =       216,789.79 x 1 mo =   216,789.79
Total monthly payment = 1,727.11 x 47 mos =  81,174.17

Total cost = 216,789.79 + 81,174.17 = 297,963.96

Answer Link

Related Questions

A cook preparing a meal for a group of people is an example of
what are the main structural elements that need to be included in a skeletal outline
Penicillin is ordered for a child weighing 35 pounds The average dose for an adult is 360 mg The child will receive mg
What determines the number and types of organelles in a eukaryotic cell
how to work out 6a42
What is the differences between robbery and thieves
Is Mila Kunis an emotional actress or technical actress
Alexis counted 16 commercials while watching 30 min of tv At this rate how many commercials would play in a day
Huang buys 3 shirts that each cost the same amount, a pair of pants that cost $12, and he pays with a $100 bill. Which expression represents the amount of chang
How many solutions does this system have x2y2 y2x5 a infinitely many solutions b no solutions c two solutions d one solution