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jayne purchased a home for 240000 with a down payment of 48000. The rate of interest was 5-3/4 for 30 years. What was her monthly mortgage payment

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[tex]\bf \qquad \qquad \textit{Amortized Loan Value} \\\\ pymt=P\left[ \cfrac{\frac{r}{n}}{1-\left( 1+ \frac{r}{n}\right)^{-nt}} \right][/tex]


[tex]\bf \begin{cases} P= \begin{array}{llll} \textit{original amount}\\ \end{array}\to & \begin{array}{rllll} 240,000\\ -downpayment\\ -48,000\\ -----\\ 192,000 \end{array}\\ pymt=\textit{periodic payments}\\ r=rate\to 5\frac{3}{4}\%\to \frac{5\frac{3}{4}}{100}\to &0.0575\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{payments are monthly, thus} \end{array}\to &12\\ t=years\to &30 \end{cases}[/tex]


[tex]\bf pymt=192000\left[ \cfrac{\frac{0.0575}{12}}{1-\left( 1+ \frac{0.0575}{12}\right)^{-12\cdot 30}} \right][/tex]

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