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

For 1 flavor there are 9 topping

Therefore, for 5 different flavors there will be 5*9 choices

No of choices= 5*9

=45 

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

Area of rectangle= L*b

here,

L=12.4 cm

b= 8.8 cm

A= L*b

= 12.4 * 8.8 = 109.12 cm^2

Mathematics
Step-by-step answer
P Answered by PhD

Volume of rectangular prism=length * width * height

Given,

length=3/8cm

breadth=5/8cm

height=7/8cm

therefore volume=(3/8)*(5/8)*(7/8)

                           =105/512 cm3

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