Answer:
Her new monthly payment is now $1,378.91¢
Step-by-step explanation:
For us to calculate the new monthly mortgage payment that Anna will start paying from now on, we need to input the formula for calculating monthly mortgage payments.
The formula is:-
![M = P [\frac{r(1+r)^{n} }{(1+r)^{n}-1}]](https://tex.z-dn.net/?f=M%20%3D%20P%20%5B%5Cfrac%7Br%281%2Br%29%5E%7Bn%7D%20%7D%7B%281%2Br%29%5E%7Bn%7D-1%7D%5D)
Where M is the monthly mortgage payment.
P is the principal
r is the monthly interest rate calculated by dividing your annual interest rate by 12
n is the number of payments(the number of months you will be paying the loan).
In this case, the new principal that Anna must pay back is $231,905.47¢. The annual interest rate has been reduced to 5.17% from 5.75% so the new monthly interest rate will be obtained by dividing the new annual interest rate by 12
= 5.17%/2
= 0.431%
This is the new monthly interest rate.
Since she has been paying her mortgage loan diligently for 5 complete years. It means she now has just 25 years to complete the payment. If 12 months make up one year, then there are - 12 × 25 = 300 more months to go.
300 is therefore "n" that is required for the calculation.
All the terms needed for the calculation of her new monthly mortgage is now complete.
P = $231,905.47¢
r = 0.431%
n = 300
![M = 231,905.47[\frac{0.00431(1+0.00431)^{300} }{(1+0.00431)^{300} -1}]](https://tex.z-dn.net/?f=M%20%3D%20231%2C905.47%5B%5Cfrac%7B0.00431%281%2B0.00431%29%5E%7B300%7D%20%7D%7B%281%2B0.00431%29%5E%7B300%7D%20-1%7D%5D)
![= 231,905.47[\frac{0.00431(3.634)}{2.634}]](https://tex.z-dn.net/?f=%3D%20231%2C905.47%5B%5Cfrac%7B0.00431%283.634%29%7D%7B2.634%7D%5D)
= 231,905.47 × 0.005946
M = $1,378.91¢
Therefore her new monthly mortgage payment will become $1,378.91¢
Answer:
LIMIT
The policy will pay for up to
$100,000 of damage to
another person's property.
The policy will pay only
$100 per incident for a
tow truck
DEDUCTIBLE
The policyholder must pay
the first $1,000 of repair
expenses before insurance
will pay for anything,
PREMIUM
The policy offers coverage
for a cost of $178 per month
The policyholder must
pay $500 semiannually
to the insurance provider
Step-by-step explanation:
LIMIT is the maximum amount an insurer will pay toward a covered claim
DEDUCTIBLE is the amount paid out of pocket toward a covered claim
PREMIUM is the amount paid regularly to keep the policy in force.
Answer: -4/15
Step-by-step explanation: To add these two fractions together,
we start by finding their <em>Least Common Denominator</em> (LCD).
Since our denominators of 5 and 3 have no factors in common,
our least common denominator is 5 · 3 or 15.
In order to get a denominator of 15 in each fraction,
we multiply top and bottom of the first fraction by 3
and top and bottom of the second fraction by 5.
That gives us -9/15 + 5/15 which simplifies to -4/15.
As your last step, make sure that the fraction
that you end up with doesn't reduce.
In this case, -4/15 does not reduce but watch out for this last step.
So for the first one it is (x-3)(x+3) this is because it is a difference of squares so you square root the 9 and the minus you do both +and - in order to keep up the -9
The zeros are:x=3 and x=-3 ( this is because you change the sign in the bracket
the others should be pretty simple to do for number 2 its a complex
the third is a simple trinomial
and fourth is simple trinomial as well