Answer:
(a)$5805.21
(b)Least Expensive Mortgage =$120640.59
Most Expensive Mortgage =$152032.77
Step-by-step explanation:
The future value of an ordinary annuity with deposits P made regularly k times each year for n years, with interest compounded times k per year at an annual rate r, is given as:
![F.V.=\dfrac{P[(1+i)^{kn}-1]}{i}](https://tex.z-dn.net/?f=F.V.%3D%5Cdfrac%7BP%5B%281%2Bi%29%5E%7Bkn%7D-1%5D%7D%7Bi%7D)
The Pirerra's Monthly Payments=$140
Annual Rate =9.5%
Therefore: Monthly Rate=0.095/12
Years, n=3
Period, k=12
![F.V.=\dfrac{140[(1+\frac{0.095}{12} )^{3*12}-1]}{\frac{0.095}{12} }=\$5805.21](https://tex.z-dn.net/?f=F.V.%3D%5Cdfrac%7B140%5B%281%2B%5Cfrac%7B0.095%7D%7B12%7D%20%29%5E%7B3%2A12%7D-1%5D%7D%7B%5Cfrac%7B0.095%7D%7B12%7D%20%7D%3D%5C%245805.21)
(b)For the Johnsons, Present value of Mortgage is derived using the formula:
![\Text{Present Lump Sum}, A_0=\dfrac{P[1-(1+i)^{-kt}]}{\frac{r}{k} }](https://tex.z-dn.net/?f=%5CText%7BPresent%20Lump%20Sum%7D%2C%20A_0%3D%5Cdfrac%7BP%5B1-%281%2Bi%29%5E%7B-kt%7D%5D%7D%7B%5Cfrac%7Br%7D%7Bk%7D%20%7D)
At $1000 Monthly payment
![\Text{Present Lump Sum}, A_0=\dfrac{1000[1-(1+\frac{0.08}{12} )^{-12*15}]}{\frac{0.08}{12} }=\$104640.59](https://tex.z-dn.net/?f=%5CText%7BPresent%20Lump%20Sum%7D%2C%20A_0%3D%5Cdfrac%7B1000%5B1-%281%2B%5Cfrac%7B0.08%7D%7B12%7D%20%29%5E%7B-12%2A15%7D%5D%7D%7B%5Cfrac%7B0.08%7D%7B12%7D%20%7D%3D%5C%24104640.59)
Adding a down payment of $16000
- Least Expensive Mortgage = 104640.59+16000=$120640.59
At $1300 Monthly Payment
![\Text{Present Lump Sum}, A_0=\dfrac{1300[1-(1+\frac{0.08}{12} )^{-12*15}]}{\frac{0.08}{12} }=\$136032.77](https://tex.z-dn.net/?f=%5CText%7BPresent%20Lump%20Sum%7D%2C%20A_0%3D%5Cdfrac%7B1300%5B1-%281%2B%5Cfrac%7B0.08%7D%7B12%7D%20%29%5E%7B-12%2A15%7D%5D%7D%7B%5Cfrac%7B0.08%7D%7B12%7D%20%7D%3D%5C%24136032.77)
Adding a down payment of $16000
- Most Expensive Mortgage = 136032.77+16000=$152032.77
Answer:
24:40
Step-by-step explanation:
3:5
This means there are 8 divisions altogether - 8 parts to be split (3+5=8)
64 / 8 = 8
8x3 = 24
8x5 = 40
£24:£40
Hope this makes sense!
Answer:
Distribuitive Property (I think)
Step-by-step explanation:
This example is can be shown in another way, like:
1.(a+3) = a+3
You apply the distribuitive multiplying "a" and "3" by "1".
And then you can take away the parentheses.
Answer:
Part A would be B, and Part B would be C
Step-by-step explanation:
With the graph that B shows, the distance to time ratio is cut very sharply, indicating that there wasn't a constant speed throughout the entire time, up until where the graph went from shooting upwards to slightly inclining.
With the graph that C shows, out of all of the graphs, it is the only graph that shows the fact that the person went back to their starting point, indicating that they did return home because they forgot something.
I hope this helps :)
I found this someone answered i think it’s right ! Sorry that’s all I found
