Answered

IDNLearn.com provides a reliable platform for finding accurate and timely answers. Join our interactive community and get comprehensive, reliable answers to all your questions.

What is the average monthly mortgage payment?

Monthly Expenditures

\begin{tabular}{|l|r|r|r|}
\hline & \multicolumn{1}{|c|}{ June } & \multicolumn{1}{c|}{ July } & \multicolumn{1}{c|}{ August } \\
\hline Water & [tex]$\$[/tex] 32.00[tex]$ & $[/tex]\[tex]$ 26.00$[/tex] & [tex]$\$[/tex] 24.00$ \\
\hline Mortgage & [tex]$\$[/tex] 1200.00[tex]$ & $[/tex]\[tex]$ 1200.00$[/tex] & [tex]$\$[/tex] 1200.00$ \\
\hline Electricity & [tex]$\$[/tex] 190.00[tex]$ & $[/tex]\[tex]$ 220.00$[/tex] & [tex]$\$[/tex] 242.00$ \\
\hline Car Loan & [tex]$\$[/tex] 225.00[tex]$ & $[/tex]\[tex]$ 225.00$[/tex] & [tex]$\$[/tex] 225.00$ \\
\hline
\end{tabular}

[tex]\[ \text{Average Monthly Mortgage Payment} = \$1200.00 \][/tex]

Sagot :

GinnyAnsweridn
To find the average monthly mortgage payment over June, July, and August, we start by identifying the mortgage payments for each month.

From the given table:
- For June, the mortgage payment is $1200.00.
- For July, the mortgage payment is $1200.00.
- For August, the mortgage payment is $1200.00.

Next, we calculate the total mortgage payment over these three months:
[tex]\[ 1200.00 + 1200.00 + 1200.00 = 3600.00 \][/tex]

To find the average monthly mortgage payment, we divide the total mortgage payment by the number of months, which is 3:
[tex]\[ \text{Average Monthly Mortgage Payment} = \frac{3600.00}{3} = 1200.00 \][/tex]

Therefore, the average monthly mortgage payment is:
[tex]\[ \$1200.00 \][/tex]
We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Your questions are important to us at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.