Use an amortization table to solve the problem. Round to the nearest cent.A home was purchased 14 years ago for $70,000. The home was financed by paying a 20% down payment and signing a 25 year mortgage at 8.5% compounded monthly on the unpaid balance. The market value is now $100,000. The owner wishes to sell the house. How much equity (to the nearest dollar) does the owner have in the house after making 168 monthly payments?
Fill in the blank(s) with the appropriate word(s).
$61,414
You might also like to view...
Rewrite each number using scientific notation before performing the operation. Leave your answer in scientific notation form.(500)(40,000)
A. 2.0 × 106 B. 2.0 × 109 C. 2.0 × 107 D. 2.0 × 108
Solve the system.y = x2 - 4x + 4x + y = 22
A. {(2, 20)} B. {(6, 28), (-3, 25)} C. {(6, 16), (-3, 25)} D. {(-6, 28), (-3, 19)}
Use the Trapezoidal Rule with n = 4 steps to estimate the integral.
A. 
B. 
C. 
D. 
Determine which of the following methods is the best choice for solving the given equation: factoring, using the principle of square roots or using the quadratic formula. Then, solve the equation.(x + 5)2 = 15
A. Square root principle or factoring; 5 ± 
B. Square root principle; -5 ± 
C. Quadratic formula; ±
D. Factoring; 10