Answer:
b
Step-by-step explanation:
Answer:
See below ↓↓
Step-by-step explanation:
<u>Plan 1</u>
<u>Plan 2</u>
<u>Part A</u>
<u>Equating them</u>
⇒ 127x = 363 + 94x
⇒ 33x = 363
⇒ x = <u>11 months [They will be same at this point]</u>
<u>Part B</u>
⇒ Plan 1 : 127(24) = $3048
⇒ Plan 2 : 363 + 94(24) = 2256 + 363 = $2619
⇒ I would recommend Plan 2 as it costs less for the time period of 2 years
Answer:
The original amount of the mortgage was $66231.45.
Step-by-step explanation:
In order to find the original amount of the mortgage, you can use the following formula to calculate the present value:
PV=FV/(1+r/n)^nt
PV=present value
FV=future value= 775*12*12=111.600
r=rate of interest=0.0440
n= number of compounding periods= 2
t= time in years=12
Now, you can replace the values on the formula:
PV=111600/(1+(0.0440/2))^2*12
PV=111600/(1.022)^24
PV=111600/1.685
PV=66231.45
According to this, the answer is that the original amount of the mortgage was $66231.45.
Answer:
x = 1
Step-by-step explanation:
They intersect at ONE point.
x = 72
Step-by-step explanation:
