A family buys a house for $265,000 with a down payment of $25,000. The family takes out a 15-year mortgage at an interest rate of 5.5%. Find the amount of the monthly payment required to amortize this loan.

The Business Mathematics DSST is broken down as follows: 50%    Business Applications 16%    Statistics 15%    Algebraic Concepts 14%    Financial Mathematics 05%    Number Sense Though there are different versions of Business Mathematics DSST, you'll most likely see some of the following on your exam: Installment Purchases Annuities and present value Simultaneous linear equations Unit Conversions Extrapolation and Interpolation Break-even analysis (algebraically and graphically) Quadratic equations and functions Investment performance measures Depreciation/salvage... Show more

The Business Mathematics DSST is broken down as follows:

50%    Business Applications
16%    Statistics
15%    Algebraic Concepts
14%    Financial Mathematics
05%    Number Sense

Though there are different versions of Business Mathematics DSST, you'll most likely see some of the following on your exam:

Installment Purchases
Annuities and present value
Simultaneous linear equations
Unit Conversions
Extrapolation and Interpolation
Break-even analysis (algebraically and graphically)
Quadratic equations and functions
Investment performance measures
Depreciation/salvage value
Weighted Averages
Central Tendency
Cost Minimization/Value Optimization
Percentages, fractions and decimals
Graphing equations and evaluating functions
Promissory Notes and other loans
Dispersion
Annual Percentage Rate
Simultaneous Linear Equations
Effective annual rate

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