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Alborosie
3 years ago
11

Misty is buying a house for $385,000. She is financing $345,500 and obtained a 15 year fixed rate mortgage with the 4.875% inter

est rate. How much our her monthly payments? (show work)
A= $3019.55
B= $2709.75
C= $36,779.05
D= $ $33,005.61
Mathematics
1 answer:
Nikitich [7]3 years ago
3 0
345500=pmt[(1-(1+0.04875/12)^(-12×15))/(0.04875/12)]
Solve for pmt
Pmt=2709.75
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a) As the constants are equal, the situation represents a proportional relationship.

b) The constant of 2/3 cupcakes per minute means that in a minute, 2/3 of a cupcake is made.

<h3>What is a proportional relationship?</h3>

A proportional relationship is a function in which the output variable is given by the input variable multiplied by a constant of proportionality, that is:

y = kx

In which k is the constant of proportionality.

In this problem, the constants for each situation are:

k = 30/45 = (30/15)/(45/15) = 2/3 = 20/30.

Since the constants are equal, the situation represents a proportional relationship.

The constant of 2/3 cupcakes per minute means that in a minute, 2/3 of a cupcake is made.

More can be learned about proportional relationships at brainly.com/question/10424180

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Replace every x you see in the function with 1 and simplify.

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