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Dennis_Churaev [7]
3 years ago
7

The first advertisement discussed in class states that the salespeople make an average of $1,000 per week. Suppose there are nin

e salespeople. What would the ninth person need to earn for the mean to be $1,000 if the other eight salespeople earned $550, $600, $600, $800, $950, $950, $1,000, and $1,100?
Mathematics
1 answer:
In-s [12.5K]3 years ago
6 0
All numbers added equal 6550
(6550+x)/9=1000
6550+x=9000
x=2450
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Simplify the expression: –3(–7 + 3z)
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Find the area of the shape shown below.
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Read 2 more answers
You are buying a house that cost 650,000 and you put down a down payment. you take out a loan for the remainder of the amount, o
gayaneshka [121]
<h3>Answers:</h3>

Monthly Payment = $4,702.68

Total Payments = $846,482.40

Interest = $261,482.40

Delete the dollar signs and/or commas if needed.

=====================================================

Explanation:

The down payment is 10% of the home's value

This means that the buyer pays $65,000 up front (since 0.10*650,000 = 65,000).

The remaining 650,000 - 65,000 = 585,000 dollars is loaned in the mortgage.

Or you could write it like this 95% of 650,000 = 0.95*650,000 = 585,000

-----------------

The monthly payment formula is

P = (L*i)/( 1-(1+i)^(-n) )

where,

  • P = monthly payment
  • L = amount loaned
  • i = interest rate per month in decimal form
  • n = number of months

In this case,

  • L = 585,000 dollars
  • i = 0.0525/12 = 0.004375 exactly
  • n = 15*12 = 180 months (equivalent to 15 years)

So,

P = (L*i)/( 1-(1+i)^(-n) )

P = (585000*0.004375)/( 1-(1+0.004375)^(-180) )

P = 4702.6846353538

P = 4702.68

The monthly payment is $4,702.68

-----------------

Let's now compute the total amount paid back (principal + interest)

If you pay 4,702.68 dollars per month over the course of 180 months, then you pay back a total of 4702.68*180 = 846,482.40

The total payments add up to 846,482.40 dollars.

-----------------

To compute the interest only, subtract the total payments from the amount loaned.

846,482.40 - 585,000 = 261,482.40 is the amount of interest only.

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Which set of ordered pairs is a function?
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