how do u do this problem?
mrs.ren is buying a house for 85 000 she makes a cash down payment of 10% of the buying price of the house
then she takes out a mortage that requires her to pay 900$ per month .
mrs.less is also buying a house for 85 000 however she makes a cash down payment pf 6% of the buying price of the house and then she borrows the rest .her monthly payments on this mortage are 1100$
after how many months will the two woman have paid the same amount for their house?? show work plz
- Anonymous1 decade agoFavorite Answer
Call Mrs Ren's payment R, Mrs Less's payment L, and the months passed M
R = 8500 + 900M
L = 5100 + 1100M
Now solve 8500 + 900M = 5100 + 1100M