Afamily has a $150,000, 30-year mortgage at 6.1% com-pounded monthly.
find the monthly payment. also find the unpaid balance after (a) 10 years.

Monthly payment = $908.99

(A) $125,862.32

Step-by-step explanation:

Given:

Present value = $150,000

Duration, n = 30 years = 30 × 12 = 360 months

Interest = 6.1% compounded monthly

or

Monthly interest, r = =  0.5083%

Now,

Monthly payments can be calculated using the formula

thus,

or

Monthly payment = $908.99

(A) unpaid balance after 10 years will be equal to the payment made in 20 years starting from the end of 10th year

thus,

n = 20 × 12 = 240

Unpaid balance =

or

Unpaid balance =

or

Unpaid balance after 10 years = $125,862.32

n=9

step-by-step explanation:

7 times a number = 7n

decreased by 13 = 7n-13

same as is =

5 times the number = 5n

increased by 5 = 5n+5

7n-13 = 5n+5

2n=18

n=9

asdasdsad

step-by-step explanation: