1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sveta [45]
3 years ago
13

Emma Sanchez is currently renting an apartment for $725 per month and paying $275 annually for renter’s insurance. She just foun

d a small townhouse she can buy for $185,000. She has enough cash for a $10,000 down payment and $4,000 in closing costs. Her bank is offering 30-year mortgages at 5 percent per year. Emma estimated the following costs as a percentage of the home’s price: property taxes, 2.5 percent; homeowner’s insurance, 0.5 percent; and maintenance, 0.7 percent. She is in the 22 percent tax bracket and does not plan to itemize deductions on her taxes. Emma estimates that the value of the home will appreciate 2 percent per year.
Mathematics
1 answer:
Savatey [412]3 years ago
7 0

Answer:

Annual Cost of Rent: $725*12=8700

Add: Renter's Insurance=$275

Total Cost=$8,975

Now if she purchased a house then let's see how much annual cost she need to bear:

EMI=$185000-$10,000=$175000/Total PVIF @5% for 30Years

EMI=$939.44

Hence. Annually it would be $939.44*12=$11273.28

So, it is quite clear that by purchasing the owned home Emma needs to bear extra cost of $2298.28 per year apart from the yearly expenditure that is property taxes insurance and maintenance which is of 10% of total cost of the house that is $18,500($185000*10%).

Hence, to purchase a house is not feasible and to go for the rent option is more viable for Emma.

You might be interested in
Find the sum of the first 20 terms of an arithmetic sequence with an 18th term of 8.1 and a common difference of 0.25.
il63 [147K]

The sum of the first 20 terms of an arithmetic sequence with the 18th term of 8.1 and a common difference of 0.25 is 124.5

Given,

18th term of an arithmetic sequence = 8.1

Common difference = d = 0.25.

<h3>What is an arithmetic sequence?</h3>

The sequence in which the difference between the consecutive term is constant.

The nth term is denoted by:

a_n = a + ( n - 1 ) d

The sum of an arithmetic sequence:

S_n = n/2 [ 2a + ( n - 1 ) d ]

Find the 18th term of the sequence.

18th term = 8.1

d = 0.25

8.1 = a + ( 18 - 1 ) 0.25

8.1 = a + 17 x 0.25

8.1 = a + 4.25

a = 8.1 - 4.25

a = 3.85

Find the sum of 20 terms.

S_20 = 20 / 2 [ 2 x 3.85 + ( 20 - 1 ) 0.25 ]

         = 10 [ 7.7 + 19 x 0.25 ]

         = 10 [ 7.7 + 4.75 ]

         = 10 x 12.45

         = 124.5

Thus the sum of the first 20 terms of an arithmetic sequence with the 18th term of 8.1 and a common difference of 0.25 is 124.5

Learn more about arithmetic sequence here:

brainly.com/question/25749583

#SPJ1

8 0
1 year ago
First person to answer gets brainlest, tysm<br> please help :))
julia-pushkina [17]
Y=x+4
x=0 y=4
x=1 y=5
x=2 y=6
x=3 y=7
plot the points at
(0,4) (1,5) (2,6) and (3,7)
7 0
2 years ago
What is the distance between x=-2 and x=10
Ostrovityanka [42]

Answer:

12 prob

Step-by-step explanation:

5 0
2 years ago
Read 2 more answers
Simplify the expression.<br><br> [(11 - 4)^3]^2 ÷ (4 + 3)^5
MAXImum [283]

Answer:

<h2>7</h2>

Step-by-step explanation:

\left[\left(11\:-\:4\right)^3\right]^2\:\div \left(4\:+\:3\right)^5\\\\\frac{\left(\left(11-4\right)^3\right)^2}{\left(4+3\right)^5}\\\\\mathrm{Subtract\:the\:numbers:}\:11-4=7\\\\=\frac{\left(7^3\right)^2}{\left(4+3\right)^5}\\\\\mathrm{Add\:the\:numbers:}\:4+3=7\\\\=\frac{\left(7^3\right)^2}{7^5}\\\\\left(7^3\right)^2=7^6\\\\=\frac{7^6}{7^5}\\\\\mathrm{Apply\:exponent\:rule}:\quad \frac{x^a}{x^b}=x^{a-b}\\\\\frac{7^6}{7^5}=7^{6-5}\\\\\mathrm{Subtract\:the\:numbers:}\:6-5=1\\\\=7

5 0
3 years ago
Try to estimate the probability you'd turn on the radio and hear a song you were thinking about. In other words, estimate the pr
Black_prince [1.1K]

Probabilities are used to determine the likelihood of events

The value of the probability P(thinking of a song)P(turn on the radio and hear the song) is 0.056

<h3>How to estimate the probability</h3>

To calculate the probability, we make use of the following representations:

  • Event A represents the likelihood of thinking of a song
  • Event B represents the likelihood of turning on the radio and hearing the song

So, we have:

P(thinking of a song)P(turn on the radio and hear the song) = P(A) * P(B)

Assume that:

P(A) = 0.12 and P(B) = 0.47

So, we have:

P(thinking of a song)P(turn on the radio and hear the song) = 0.12* 0.47

Evaluate the product

P(thinking of a song)P(turn on the radio and hear the song) = 0.0564

Approximate

P(thinking of a song)P(turn on the radio and hear the song) = 0.056

Hence, the value of the probability P(thinking of a song)P(turn on the radio and hear the song) is 0.056

Read more about probabilities at:

brainly.com/question/25870256

8 0
2 years ago
Other questions:
  • In the decimal number .675, the 7 holds what place value? 
    13·2 answers
  • What gift does luke give to percy? why cant percy use them?
    8·2 answers
  • Help me complete my homework plz
    10·1 answer
  • What does 3(-1/4) equal
    8·2 answers
  • Which of the following is(are) the solution(s) to |x+8|=1
    13·1 answer
  • What is the result when the number 10 is increased by 10%?
    13·2 answers
  • How does cuscuta plant derive it's nutrition​
    10·2 answers
  • The factors of x cube -10x square -53x-42
    9·1 answer
  • Can someone help me plz
    12·1 answer
  • Which region indicates the intersection of the system 2x + 3y &gt; 3 and y sx - 1?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!