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S_A_V [24]
1 year ago
11

Ethan is looking to take out a mortgage for $620,000 from a bank offering an annual interest rate of 4.5%, compounded monthly. U

sing the formula below, determine his monthly payment, to the nearest dollar, if the loan is taken over 25 years.
Mathematics
1 answer:
Komok [63]1 year ago
6 0

His monthly payment to the nearest dollar of the loan taken over 25 years = $4,391.67

<h3>Calculation of monthly payment</h3>

The mortgage capital = $620,000

The rate of payment of interest= 4.5%

The period for the payment = 25 years.

Simple interest

= p×T×R/100

= $620,000 × 25 × 4.5/100

= 69750000/100

= $697,500

Therefore the total amount of money that will be generated = $620,000 + $697,500 = $1,317,500

Therefore the monthly payment,

= $1,317,500/12×25

= $4,391.67

Learn more about simple interest here:

brainly.com/question/20690803

#SPJ1

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Use place value to find the product 6x40
marta [7]

Answer:

240

Step-by-step explanation:

math. get sckoooledz

4 0
3 years ago
A bike rider is traveling at a speed of 15 feet per second. Write an expression for the distance the rider has traveled after s
bija089 [108]

distance = speed x time

distance  time

45 ft          3.0 s

87 ft          5.8 s

166.5 ft    11.1 s

210 ft        14.0 s

4 0
2 years ago
Please show me how you got the answer. Will give brainliest.
umka21 [38]

Answer:          410 possible points

To solve for the possible points in the course, use a proportion and cross multiply.

<h2>What is a proportion?</h2>

A proportion is two fractions that are equal to each other. For the fractions to be equal, they are proportionate. In our math problem, percentage is proportionate the the number of points.

The fractions represent information you have, and one variable will represent what you are solving for.

<h2 /><h3>Given</h3>

Your points = 361

Points to get an 'A' = your points + 8

'A' = 90% of possible points

<h3>Find the points needed for an 'A' at 90%</h3>

Points to get an 'A' = your points + 8

= 361 + 8

= 369

<h3>State variables</h3>

let <em>x</em> be the amount of possible points

<h3 /><h3>Write a proportion</h3>

We know the number of points for 90% is 369 points. Remember that 90% is the same as 90/100.

Keep the information with the same units inside the same fraction. Here, percentage is represented by the first fraction. Points is represented by the second fraction.

\displaystyle{\frac{90}{100}=\frac{369}{x}}

<h3>Solve</h3>

We can solve using cross multiplication. This is when we multiply each numerator by the denominator from the other fraction.

90x = 369*100        Simplify by multiplying.

90x = 36,900            Isolate the variable <em>x</em>.

\displaystyle{\frac{90x}{90} = \frac{36,900}{90}}           Divide both sides by 90 to cancel out 90 on the left.

\displaystyle{x = \frac{36,900}{90}}              Divide.

x = 410                    Solved for <em>x</em>, representing the possible points.

∴ The possible points in the art course is 410.

Learn more about finding a missing number given percentage here: brainly.com/question/26535441

4 0
1 year ago
How much do you need to subtract from 31/6 to make<br> 5?
MissTica

Answer:

1/6

Step-by-step explanation:

since 31/6 is 5 1/6

4 0
2 years ago
Read 2 more answers
Find all real solutions of the equation. (Enter your answers as a comma-separated list.)
34kurt

Answer:

0,1

Step-by-step explanation:

x^2 − x = 0

Factor out an x

x(x-1) =0

Using the zero product property

x=0     x-1=0

Solving each equation

x=0    x-1+1 =0+1

x=0      x=1

The solutions are

x=0,1

7 0
3 years ago
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