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Kamila [148]
3 years ago
6

You have a mortgage of $125,600.00 at a 4.95% APR. You make a payment of $1500.00 each month. What is your principal Balance at

the beginning of the third month?

Mathematics
1 answer:
kifflom [539]3 years ago
3 0

This sort of problem is most easily worked using a financial calcualtor or app. Attached is the result of using the financial app available on a TI-84 calculator for finding future value. The arguments to the function are ...

... N — number of payments: 3

... I — annual interest rate (%): 4.95

... PV — present value: the value of the loan, 125,600

... PMT — payment amount: -1500. The sign is negative because this is money we're paying out

... P/Y — payments per year: 12 (payment is monthly)

... C/Y — compounding per year: 12 (interest is compounded monthly)

After 3 payments, the balance is $122,642.13.

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════════ ∘◦❁◦∘ ════════

<h3>Final value : x² -9x - 11</h3>

════════════════════

<h3>Step by step </h3>

\frac{1}{(x - 2)}  +  \frac{1}{(x + 3)}  =   \frac{1}{5}

\frac{(x + 3) + (x - 2)}{(x - 2)(x + 3)}  =  \frac{1}{5}

\frac{2x + 1}{ {x}^{2} + 3x - 2x - 6 }  =  \frac{1}{5}

\frac{2x + 1}{ {x}^{2}  + x - 6}  =  \frac{1}{5}

2x + 1 = ⅕ × (x² + x - 6)

2x + 1 = ⅕x² + ⅕x - 6/5

1/5x² +1/5x - 2x - 6/5 - 1 = 0

1/5x² -9/5x - 11/5 = 0

x² - 9x - 11 = 0. #times by 5

════════════════════

#Give me brainliest pls im tired typing all of this

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