Canceling units is also called: a. changing the value c. multiplication b. unit analysis d. making connections
1 answer:
Canceling units is also called unit analysis.
This is also called dimensional analysis.
What is a unit of analysis in statistics?
- The unit of analysis is the entity that you're analyzing. It's called this because it's your analysis (what you want to examine) that determines what this unit is, rather than the data itself.
- Because it is the analysis you do in your study that determines what the unit is.
- For instance, if you are comparing the children in two classrooms on achievement test scores, the unit is the individual child because you have a score for each child.
For example -
1 ft = 12 in
3 ft =
3 ft = ( 3 * 12 ) in ⇒ 36 in
Learn more about unit analysis
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Answer:
a. They will need $90,000.00 for the down payment
b. The mortgage amount (principal) will be $360,000.00
c. The monthly principal payment will be $1,500,00
The monthly interest payment will be $634.40
d. The total interest they will pay: $152,256.00
Step-by-step explanation:
house price= $450,000
down payment = 20%
20-year mortgage
Interest rate= 3.75%
a. How much they will need for the down payment?
The down payment (DoP) is 20% of the house price
DoP= 20% de $450,000
DoP= 0.20*450,000
DoP= $90,000
b. What will be the mortagage amount (the principal)?
The mortgage amount (MoA) (principal) is the difference between the house price and the down payment.
MoA= $450,000 - $90,000
MoA= $360,000
c. How much will their monthly payment be for the principal and interest?
This equation represents the monthly payment (M):
where
P= the principal = $360,000
r= monthly interest rate = 3,75% divided by 12 = 0,31%
n= number of payments = 20 years multiplied by 12 months = 240
Let´s input these data into the equation:
Solving the equation:
M= $2,134.40
the principal component of this M would be
$360,000 divided by the 240 months
So, the principal component of M = $1,500.00
And the interest component of M is the difference
$2,134.40 - $1,500.00
So, the interest component of M = $634.40
d. How much total interest will they pay if they take the full 20 years to pay off the mortgage?
With every payment, they will be paying:
$634.40 per month, multiplied by 240 months
The total interest will be $152,256.00