1. example 4 Home Mortgage Chapter 5.6 A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?  2009 PBLPathways

2. A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

3.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

4.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house? Present Value of an Ordinary Annuity If a payment of $R is to be made at the end of each period for n periods from an account that earns interest at a rate of i per period, then the account is an ordinary annuity, and the present value is

5.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

6.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

7.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

8.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

9.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

10.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

11.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

12.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

13.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?

14.  2009 PBLPathways A couple who wants to purchase a home has $30,000 for a down payment and wants to make monthly payments of $2200. If the interest rate for a 25-year mortgage is 6% per year on the unpaid balance, how much can they spend on a house?