Question

on a certain Home Mortgage, there is a monthly payment of $9.43 for every $1,000 that is borrowed. What is the monthly payment on this type of loan if $135,000 is borrowed? NO LINKS!!! ​

Answer 1

Solve using ratios as ratios remain same

Let the amount be n

`\\ \rm\Rrightarrow (9.43)/(1000)=(n)/(135000)`

`\\ \rm\Rrightarrow 0.00943=n/135000`

`\\ \rm\Rrightarrow n=0.00943(135000)`

`\\ \rm\Rrightarrow n=1273.05`

Answer 2

Answer: $1273.05

Work Shown:

x/(135,000) = (9.43)/(1000)

x = 135,000*(9.43/1000)

x = 1273.05