A community for students. Sign up today!
Here's the question you clicked on:
 0 viewing
 one year ago
Walker is buying a house for $225,000. He is financing $195,000 and obtained a 30year, fixedrate mortgage with a 6.625% interest rate. How much are his monthly payments?
 one year ago
Walker is buying a house for $225,000. He is financing $195,000 and obtained a 30year, fixedrate mortgage with a 6.625% interest rate. How much are his monthly payments?

This Question is Closed

Urlee247
 one year ago
Best ResponseYou've already chosen the best response.0So first of all you need to find out what the 6.625% of 195.000 is. 195.000*.06625=12918.75 Then add it on 195.000 to get the total amount to pay for. 195.000+12918,75=207.918,75 Then find out how many months you have to pay it off and then divide it by the total payment. 30*12(months)=360months 207.918,75/360=577.55$ (his monthly payments)
Ask your own question
Ask a QuestionFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.