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schepotkina [342]
3 years ago
10

A certain family can afford a monthly mortgage payment of $1,340.00. With an APR of 5.25% per annum, what is the maximum mortgag

e amount they can afford if they prefer a 20-year amortization period?
Mathematics
1 answer:
irina [24]3 years ago
4 0

Answer:

  $198,859.03

Step-by-step explanation:

The amortization formula is good for this. Fill in the given numbers and solve for the unknown.

 A = P(r/n)/(1 -(1 +r/n)^(-nt))

where A is the monthly payment, P is the principal amount of the loan, r is the annual interest rate, n is the number of times per year interest is compounded, and t is the number of years.

  1340.00 = P(0.0525/12)/(1 -(1 +0.0525/12)^(-12·20)) ≈ 0.00673844·P

  P ≈ 1340/0.00673844 ≈ $198,859.03

The family can afford a loan for $198,859.

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For gallons 16 times 3 is 48

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3 years ago
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BaLLatris [955]

The equation of the line is y = -x + 6 if the passes through the point (4, 2).

<h3>What is a straight line?</h3>

A straight line is a combination of endless points joined on both sides of the point.

The slope 'm' of any straight line is given by:

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The question is incomplete.

The complete question is in the picture, please refer to the attached picture.

It is given that:

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The slope of the line g = (0-5)/(-5-0)

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4 0
2 years ago
Kurt opened a savings account and deposited $3,000.00 as principal. The account earns 5%
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Answer:

Step-by-step explanation:

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r = 5% = 0.05

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Graph for f(x)=6^6 and f(x)=14^x
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function f(x) + d. The graph of the new function is easy to describe: just

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VARVARA [1.3K]
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