Nothing further can be done with this solution
50. 2x50 = 100. To be safe I would go with any number Between 50 and 100
The list of numbers from least to greatest is
3/10 , 3/7, 3/6
This is because the numerator stays the same across all three of these fractions. However, the denominator is changing, and this proves to be a large difference.
Think about it this way: If you cut a pie into ten pieces, then those slices are going to be smaller than if you cut the pie into seven or six pieces.
Answer:
The amount of the loan is $120,000 -10% + 2% = $110,400, assuming the "points" are added to the financed amount.
I find that the monthly payment will be
$848.89. There will be 360 such payments over 30 years, for a total payment amount of $30The amount of the loan is $120,000 -10% + 2% = $110,400, assuming the "points" are added to the financed amount.
R = Pi/[1 - (1+i)^(-n)] where
P = 110,400
R = the monthly payment
i = 8.5/[100(12)] = .007083...
n = 30(12) = 360 yielding
R = $848.88 per month.
Therefore, the total interest paid is 360(848.88) - 100,400.
5,600. Subtract the original principle (110,400) from that to get the interest paid.
hopes this helps :]