Mortgage is 100000 for 30 years Interest is 06 per month Cal

Mortgage is $100000 for 30 years. Interest is 0.6% per month. Calculate monthly payment 6x+4y under conditions:

x>=0; y>=0; -x+y<=12; x+y<=24; 2x+5y<=80

Solution

mrtagage monthly payment =Pi(1+i)^n/[(1+i)^n-1]

where i is the interest rate=.6%

number of payment=12*30=360

P=$100000

substitute to calulate the monthy payment =[100000*.006(1+.006)^360]/[(1+.006)^360 -1]

                                                              =600*8.615/7.615

                                                              =$678.7

thus 6x+4y=678.7

x>=0           y>=0              -x+y<=12        x+y<=24          2x+5y<=80

from the graph x=291   and y=-267.4