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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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

For every 8 cars there are 7 trucks

Therefore,

Cars:Truck=8:7

Answer is B)8:7

Mathematics
Step-by-step answer
P Answered by PhD

y=2x+15

where y=Value of coin

x=Age in years

Value of coin after 19 years=2*19+15

=$53

Therefore, Value after 19 years=$53

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

F=ma

where F=force

m=mass

a=acceleration

Here,

F=4300

a=3.3m/s2

m=F/a

    =4300/3.3

    =1303.03kg

Approximately it is aqual to 1300kg

Mathematics
Step-by-step answer
P Answered by PhD

Speed=Distance/time

Here,

distance=15m

time=1sec

speed=15/1=15m/sec

Distance=Speed*time

time=15min=15*60sec=900sec

Distance travelled in 15 min=15*900=13,500m

=13500/1000 km=13.5Km

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.

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