# SOLUTION: The monthly payment p on a mortgage varies directly with the amount borrowed B. If the monthly payment on a 30-year mortgage is \$7.30 for every \$1000 borrowed, find a linear functi

Algebra ->  Algebra  -> Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: The monthly payment p on a mortgage varies directly with the amount borrowed B. If the monthly payment on a 30-year mortgage is \$7.30 for every \$1000 borrowed, find a linear functi      Log On

 Ad: You enter your algebra equation or inequality - Algebrator solves it step-by-step while providing clear explanations. Free on-line demo . Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations! Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

 Linear Solvers Practice Answers archive Word Problems Lessons In depth

 Question 622806: The monthly payment p on a mortgage varies directly with the amount borrowed B. If the monthly payment on a 30-year mortgage is \$7.30 for every \$1000 borrowed, find a linear function that relates the monthly payment p to the amount B for a mortgage with the same terms. Then find the monthly payment p when the amount borrowed is \$194,000. I come up with p= B/219; \$885.84 am I right?Answer by fcabanski(874)   (Show Source): You can put this solution on YOUR website!\$7.30 for every \$1000 (B) borrowed means \$7.30B...multiply the number of thousands borrowed by \$7.30. p=7.3B In this case it's p=7.3*194 = \$1416.20. Hope the solution helped. Sometimes you need more than a solution. Contact fcabanski@hotmail.com for online, private tutoring, or personalized problem solving (quick for groups of problems.)