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Kobotan [32]
3 years ago
8

Sebastian and Caroline obtained a 30-year, fixed rate mortgage for $154,850 on a home that cost them $169,900. If the interest r

ate on the mortgage is 5.57%, what is the total cost of the principal and interest at the end of the mortgage?

Mathematics
1 answer:
kotegsom [21]3 years ago
6 0

Answer:

$318,972.30

Step-by-step explanation:

The total of 360 payments will be $318,972.30.

___

A financial calculator or app is useful for answering questions like this. Most spreadsheets have functions that will serve the same purpose.

_____

You may be given a formula for computing the monthly payment (A) from the principal (P), the annual interest rate (r) and the number of years (t). It might look like this:

A = P·(r/12)/(1 -(1 +r/12)^(-12·t))

Filling in the given numbers, you get ...

A = 154,850·(0.0557/12)/(1 -(1 +0.0557/12)^-360) ≈ 886.034154

Then the value of 360 such payments is ...

P+I = 360·886.034154 ≈ 318,972.30

___

In practice, the final payment will be different from the rest, to make up for the fact that the value of each payment was rounded down to the nearest cent. Rather than try to figure the amount of that payment, we have used a more precise value for the monthly payment and have assumed that doing so will give approximately the same total as the sequence of actual payments. (Our number here is about $2.34 low.)

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The number that is 10 less than 6
almond37 [142]
The number (x) that is (=) 10 less than (-) 6

x = 6 - 10   Subtract
x = -4


6 0
3 years ago
How many tiles would I need to by if each tile was 2ft by 2Ft and the square footage was 69X69
valina [46]
This is the formula you would use to calculate how many tiles you would need.

# of tiles you need = Total square footage ÷ square footage of each tile 


Total square footage: 69x69 = 4761 square feet
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# of tiles you need =
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3 0
3 years ago
will give brainliest The polygons are similar, but not necessarily drawn to scale. Find the value of x.
Serggg [28]

Answer:

I'm in eight grade so don't assume i'm right. But from looking at this. It looks like x-1=8 and y+1= 28. I'm only doing High School Math 1 in eight grade tho. So if i'm wrong i'm sorry

Step-by-step explanation:


3 0
3 years ago
Find the midpoint of the segment with the following endpoints. (7,−2) and (1,−10)
Zinaida [17]

Answer:

The answer is

<h2>(4 \:  , \:  - 6)</h2>

Step-by-step explanation:

The midpoint M of two endpoints of a line segment can be found by using the formula

<h3>M  = ( \frac{x1 + x2}{2} ,  \:  \frac{y1 + y2}{2} )</h3>

where

(x1 , y1) and (x2 , y2) are the points

From the question the points are

(7,−2) and (1,−10)

The midpoint is

<h3>M = ( \frac{7 + 1}{2}   ,  \:  \frac{ - 2 - 10}{2} ) \\  = ( \frac{8}{2} , \:  -  \frac{12}{2} )</h3>

We have the final answer as

<h3>(4 \:  , \:  - 6)</h3>

Hope this helps you

3 0
3 years ago
The price of an item yesterday was $115. Today, the price rose to $161. Find the percentage increase
mamaluj [8]

Answer:

14%

Step-by-step explanation:

161/115 = 1.4 which you times by 100

4 0
3 years ago
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