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kirza4 [7]
3 years ago
9

I don’t understand help me

Mathematics
2 answers:
Pachacha [2.7K]3 years ago
4 0

Answer:no it dosnt because of the slop

Step-by-step explanation:

Phantasy [73]3 years ago
3 0
No it doesn’t, the required slope is 1/12 but this one is 5/50 (1/12)
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A bank loans a family $90,000 at 4.5% annual interest rate to purchase a house. The family agrees to pay the loan off by making
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Using it's formula, it is found that the monthly payment should be of $688.49 in order to pay off the debt in 15 years.

<h3>What is the monthly payment formula?</h3>

It is given by:

A = P\frac{\frac{r}{12}\left(1 + \frac{r}{12}\right)^n}{\left(1 + \frac{r}{12}\right)^n - 1}

In which:

  • P is the initial amount.
  • r is the interest rate.
  • n is the number of payments.

For this problem, the parameters are given as follows:

A = 90000, r = 0.045, n = 15 x 12 = 180.

Hence:

r/12 = 0.045/12 = 0.00375.

Then we solve for A to find the monthly payment, as follows.

A = P\frac{\frac{r}{12}\left(1 + \frac{r}{12}\right)^n}{\left(1 + \frac{r}{12}\right)^n - 1}

A = 90000(0.00375)\frac{(1.00375)^{180}}{(1.00375)^{180} - 1}

A = $688.49

More can be learned about the monthly payment formula at brainly.com/question/22846480

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