The gaps in the area needs to be closed so the data you use is lenient
Present value = 135000
Monthly interest, i = 0.06/12 = 0.005
Monthly payment, A= 869.81
Future value of loan after 16 years

[compound interest formula]


Future value of payments after 16 years



Balance = future value of loan - future value of payments
=351736.652-279288.456
= $ 72448.20
Note: the exact monthly payment for a 25-year mortgage is



Repeating the previous calculation with this "exact" monthly payment gives
Balance = 72448.197, very close to one of the choices.
So we conclude that the exact value obtained above differs from the answer choices is due to the precision (or lack of it) of the provided data.
The closest choice is therefore <span>$72,449.19</span>
Answer:
m = 55/8 = 6.875
Step-by-step explanation:
Step by step solution :
Step 1 :
7
Simplify —
8
Equation at the end of step 1 :
7
6 - (m - —) = 0
8
Step 2 :
Rewriting the whole as an Equivalent Fraction :
2.1 Subtracting a fraction from a whole
Rewrite the whole as a fraction using 8 as the denominator :
m m • 8
m = — = —————
1 8
Equivalent fraction : The fraction thus generated looks different but has the same value as the whole
Common denominator : The equivalent fraction and the other fraction involved in the calculation share the same denominator
<h2>
Answer:</h2>
<em>SInce this continued fraction does not terminate, we can tell that √5 cannot be represented as a terminating fraction - i.e. a rational number. So √5 is an irrational number a little smaller than 214=94 . For better rational approximations you can terminate the continued fraction after more terms.</em>
hope this help!
Answer:
-0.4
Step-by-step explanation:
y=-0.4x+7