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ANEK [815]
2 years ago
7

Karl is purchasing a $205,000 home with a 30-year mortgage at 5.5%. Because he is not making a down payment, PMI in the amount o

f $97.50/month is required for the first 2 years of the loan. Based on this information, what is the total cost of this loan?
Mathematics
2 answers:
Rina8888 [55]2 years ago
6 0
$421,369.20 , I just had this question on Apex.

bagirrra123 [75]2 years ago
4 0

Answer:

The total loan payment is:is $1,024,050

Step-by-step explanation:

To know the total cost of this loan we must sum the the purchasing the mortgage loan LM and the PMI:

L=LM+PMI

The 30-year mortgage loan of $205,000 at 5.5% interest rate can be calculated as:

LM=$205,000*(1+0.055)^30

LM=$205,000*4.984 = $1,021,710

Then for the PMI over 24 months:

PMI: $97.5* 24 = $2,340

Therefore the total loan payment is:

L= $1,021,710 + $2,340 = $1,024,050

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In triangle ABC, side AC and the perpendicular bisector of BC meet in point D, and BD bisects ∠ABC。 If AD = 9 and DC = 7, 145–√5  is the area of a triangle.

I supposed here that [ABD] is the perimeter of ▲ ABD.

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Thus first root  cos2α=12  cannot be chosen and we have to stick with the second root  cos2α=49. This gives  cosα=23  and  sinα=5√3.

The area of a triangle ABD=12h∗AD  where h  is the distance from  B  to  AC.

h=BCsinC=14cosαsinα

Area of  triangle ABD=145–√5

= 145–√5.

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