Question 1089252
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a.  95% of the price

b. and c.  *[tex \LARGE \ \ \ \ \ \ \ \ \ \ PMT\ =\ \frac{P\ \cdot\ r}{\[1\ -\ (1\ +\ r)^{-nt}\]]


Where *[tex \Large  P] is the amount financed, that is the price of the house minus the down payment. *[tex \Large r] is the interest per period, that is the Annual Percentage Rate (APR) divided by the number of compounding periods in a year.  In the case of monthly payments, *[tex \Large n\ =\ 12].  And *[tex \Large t] is the number of years in the loan term; 30 in this case.


Plug in your values and do the arithmetic.


John
*[tex \LARGE e^{i\pi}\ +\ 1\ =\ 0]
My calculator said it, I believe it, that settles it
<img src="http://c0rk.blogs.com/gr0undzer0/darwin-fish.jpg">
*[tex \Large \ \
*[tex \LARGE \ \ \ \ \ \ \ \ \ \  


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