15.09.2022

Samantha wants to buy a house and plans to rent the apartment located in the basement for extra income. The house has a purchase price of $200,000 and she will make a 10% down payment. Samantha has qualified for a 30 year mortgage with a fixed rate of 5.875%. Approximately how much rent should she charge for the apartment in order to cover her monthly mortgage payment if she only wants to spend $500 a month of her own money?

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Step-by-step answer

24.06.2023, solved by verified expert
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$567.07

Step-by-step explanation:

Given that :

Purchase price = $200,000

Number of years = 30

Rate = 5.875%

Down payment = 10%

Hence, mortgage amount :

Purchase price - down payment

200,000 - (0.1 * 200000)

200,000 - 20,000

= $180,000

Using a mortgage calculator :

Mortgage amount = 180,000

Mortgage term = 30 years

Interest = 5.875%

Monthly payment will be : $1067.07

Hence, if she only wants to $500 from her own money, A rent of ($1067.07 - $500) = $567.07 will need to be charged

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Mathematics
Step-by-step answer
P Answered by PhD

$567.07

Step-by-step explanation:

Given that :

Purchase price = $200,000

Number of years = 30

Rate = 5.875%

Down payment = 10%

Hence, mortgage amount :

Purchase price - down payment

200,000 - (0.1 * 200000)

200,000 - 20,000

= $180,000

Using a mortgage calculator :

Mortgage amount = 180,000

Mortgage term = 30 years

Interest = 5.875%

Monthly payment will be : $1067.07

Hence, if she only wants to $500 from her own money, A rent of ($1067.07 - $500) = $567.07 will need to be charged

Mathematics
Step-by-step answer
P Answered by PhD
Answer: 440 grams for 1.54 is the better value
Explanation:
Take the price and divide by the number of grams
1.54 / 440 =0.0035 per gram
1.26 / 340 =0.003705882 per gram
0.0035 per gram < 0.003705882 per gram
Mathematics
Step-by-step answer
P Answered by PhD

F=ma

where F=force

m=mass

a=acceleration

Here,

F=4300

a=3.3m/s2

m=F/a

    =4300/3.3

    =1303.03kg

Mathematics
Step-by-step answer
P Answered by PhD

Salesperson will make 6% of 1800

=(6/100)*1800

=108

Salesperson will make $108 in $1800 sales

Mathematics
Step-by-step answer
P Answered by PhD

The wood before starting =12 feet

Left wood=6 feet

Wood used till now=12-6=6 feet

Picture frame built till now= 6/(3/4)

=8 pieces

Therefore, till now 8 pieces have been made.

Mathematics
Step-by-step answer
P Answered by PhD

The wood before starting =12 feet

Left wood=6 feet

Wood used till now=12-6=6 feet

Picture frame built till now= 6/(3/4)

=8 pieces

Therefore, till now 8 pieces have been made.

Mathematics
Step-by-step answer
P Answered by PhD

The wood before starting =12 feet

Left wood=6 feet

Wood used till now=12-6=6 feet

Picture frame built till now= 6/(3/4)

=8 pieces

Therefore, till now 8 pieces have been made.

Mathematics
Step-by-step answer
P Answered by PhD

Salesperson will make 6% of 1800

=(6/100)*1800

=108

Salesperson will make $108 in $1800 sales

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