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NISA [10]
3 years ago
7

-4-p-3p=-4 solve for p

Mathematics
2 answers:
crimeas [40]3 years ago
8 0
Add 4 to both sides, then 0-p-3p=0, and sum the p's -4p = 0, then p=0, by dividing both sides by -4
stepan [7]3 years ago
5 0
The solution for p is 0.

-4-p-3p=-4
-4-4p=-4 Combine like terms
-4p=-4+(-4) Bring constants to one side and combine like terms.
-4p=0 Solution
p=0/-4 Simplify using the division property of equality

p=0
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a) The monthly payment for each loan is as follows:

30-year $1,954.93

15-year $3,053.25

b) The savings in interest by using the 15-year loan is <u>$154,189,20</u> ($286,774.20 - $132,585).

c) No. the monthly payment for the 15-year loan is <u>not twice</u> that of the 30-year loan as the loan term.

d) The interest savings for the 15-year loan are <u>more</u> than one-half of the interest paid on the 30-year loan.

<h3>How are the calculations for periodic payments done?</h3>

The calculations for the monthly payments, including interests can be carried out using an online finance calculator, as follows:

<h3>30-year Loan:</h3>

N (# of periods) = 360 months (12 x 30 years)

I/Y (Interest per year) = 3.85%

PV (Present Value) = $417000

FV (Future Value) = $0

<u>Results</u>:

PMT = $1,954.93

Sum of all periodic payments = $703,774.80 ($1,954.93 x 360)

Total Interest = $286,774.20 ($703,774.80 - $417,000)

<h3>15-year Loan:</h3>

N (# of periods) = 180 months (12 x 15 years)

I/Y (Interest per year) = 3.85%

PV (Present Value) = $417000

FV (Future Value) = $0

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PMT = $3,053.25

Sum of all periodic payments = $549,585 ($3,053.25 x 180)

Total Interest = $132,585 ($549,585 - $417,000)

Learn more about periodic payments at brainly.com/question/13098072

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