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Answer:
If Dominic buys 2 points (2% of the loan value) he will get a better rate and hence less payment. The question is asking how long will it take him to save the initial investment of 2% of the loan value due to a smaller payment. The monthly payment at 5.45% is $1,146.43, the monthly payment for 5.2% is $1,118.66. This is a difference of $27.77 per month. The 2 points will cost him $3,752.00. The question is asking how long will it take Dominic to re-coup his $3,752.00 if he saves $27.77 per month. Just divide the 2 numbers and you get 135.10 months. If you divide that by 12 you get 11.26 years, which is roughly 11 years, 4 months.
Step-by-step explanation:
Here is what the question is asking. If Dominic buys 2 points (2% of the loan value) he will get a better rate and hence less payment. The question is asking how long will it take him to save the initial investment of 2% of the loan value due to a smaller payment. The monthly payment at 5.45% is $1,146.43, the monthly payment for 5.2% is $1,118.66. This is a difference of $27.77 per month. The 2 points will cost him $3,752.00. The question is asking how long will it take Dominic to re-coup his $3,752.00 if he saves $27.77 per month. Just divide the 2 numbers and you get 135.10 months. If you divide that by 12 you get 11.26 years, which is roughly 11 years, 4 months.
Answer:
yes because the slope is equal. so these two lines are parallel.
Answer:
5 x 1/3 = 5/3 or 1 2/3
It is not possible to find the answer from 5 x 3 to 5 x 1/3
#CarryOnLearning
Answer:
x^2 -10x - 15 = 0
(don't know how far you want me to go)
Step-by-step explanation:
(x - 5)^2 = 40
(expand the brackets)
(x - 5)(x - 5) = 40
x^2 -5x -5x + 25 = 40
x^2 -10x + 25 = 40
x^2 -10x - 15 = 0
