Mortage hypo loan

The Jonáš family decided to buy an older apartment, which cost EUR 30,000. They found EUR 17,000 and took the loan with the bank for the remaining amount. What interest did they receive if they repay this amount for 15 years at EUR 120 per month?

Correct result:

p =  7.4307 %

Solution:

a=3000017000=13000 eur n=15 12=180 s=120 eur  b=n s=180 120=21600 Eur  s=a qn (q1)qn1  120=13000 q180 (q1)q1801 q>0 q=1.00619222430451.0062 p1=q1=1.006210.0062 p2=12 p1=12 0.00620.0743   p=100 p2=100 0.0743=7.4307%

Equation is non-linear.
Equation is not quadratic.

The real roots of the equation:

q1 = -0.970616824448
q2 = 1.0061922243

Our simple equation calculator calculates it.



We would be pleased if you find an error in the word problem, spelling mistakes, or inaccuracies and send it to us. Thank you!






Showing 0 comments:
avatar




Tips to related online calculators
Our percentage calculator will help you quickly calculate various typical tasks with percentages.
Do you have a linear equation or system of equations and looking for its solution? Or do you have quadratic equation?
Do you want to convert time units like minutes to seconds?

Next similar math problems:

  • Repay, interest, loan
    repay Ramchacha takes a loan amount of 240000 from a bank for constructing a house at the rate of simple interest of 12% per annum. After 1 yr. of taking the loan he rents the house at the rate of 5200 per month. Determine the number of years he would take to r
  • Present value
    exp_growth A bank loans a family $90,000 at 4.5% annual interest rate to purchase a house. The family agrees to pay the loan off by making monthly payments over a 15 year period. How much should the monthly payment be in order to pay off the debt in 15 years?
  • Annual pension
    penize_49 Calculate the amount of money generating an annual pension of EUR 1000, payable at the end of the year and for a period of 10 years, shall be inserted into the bank to account with an annual interest rate of 2%
  • Savings
    bankovka The depositor regularly wants to invest the same amount of money in the financial institution at the beginning of the year and wants to save 10,000 euros at the end of the tenth year. What amount should he deposit if the annual interest rate for the annua
  • Compound interest
    bank_3 Compound interest: Clara deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Both money and interest remain deposited in the bank. How many CZK will be in the bank after 3 years?
  • Mortgage
    hypo_real_estate Family XY wants to take the bank mortgage (loan for an apartment/house) in the amount of € 100,000. Bank for processing the mortgage charges a fee of 0.79% of the amount borrowed. How many euros is this fee?
  • Loan
    loan Apply for a $ 59000 loan, the loan repayment period is 8 years, the interest rate 7%. How much should I pay for every month (or every year if paid yearly). Example is for practise geometric progression and/or periodic payment for an annuity.
  • Annual interest
    bank2 A loan of 10 000 euro is to be repaid in annual payments over 10 years. Assuming a fixed 10% annual interest rate compounded annually, calculate: (a) the amount of each annual repayment (b) the total interest paid.
  • Bank account CZ
    mince_2 We will deposit CZK 6,600 into the bank for 1 year with an interest rate of 2.5%. The interest tax is 15%. How many crowns will we receive after one year?
  • Compound interest 4
    exp_growth2 3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the account after 25 years, to the nearest cent?
  • Compound interest 3
    exp_growth2 After 8 years, what is the total amount of a compound interest investment of $25,000 at 3% interest, compounded quarterly? (interest is now dream - in the year 2019)
  • Shuyen
    penize_49 Shuyen wanted to save some money. She deposited Php.300 in a bank which pays 0.5% interest per annum. After nine months, she needed the money to buy some gifts. How much will she be able to get if he withdraws all her money from the bank?
  • Loan 4
    penize_49 Mr santos borrowed Php.18,000 at 1.5% interest for one year. What was the total amount he paid for the end of the 1-year term?
  • Deposit
    ping_bank If you deposit 719 euros the beginning of each year, how much money we have at 1.3% (compound) interest after 9 years?
  • Twelve
    stromy_9 Twelve students work on a week forestry brigade. One hundred spruces will receive x CZK, one hundred pine y CZK. How many receive each one students did in one day if they planted a total of 25,000 spruces per week and 30,000 pine trees? Express by express
  • Profitable bank deposit 2012
    eurocoins Calculate the value of what money lose creditor with a deposit € 9500 for 4 years if the entire duration is interest 2.6% p.a. and tax on interest is 19%. Annual inflation is 3.7% (Calculate what you will lose if you leave money lying idle at negative int
  • Combined interest
    bank2 Combined interest: Carol has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. The money was put into the account 5.5.2016 and withdraw them all before Christmas 20.12.2016. How much money did she withdraw?