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marissa [1.9K]
3 years ago
12

Enos took out a 25-year loan for $135,000 at an APR of 6.0%, compounded monthly, and he is making monthly payments of $869.81. W

hat will his balance be with 16 years left on the loan?
A.$107,193.28
B.$72,449.19
C.$131,763.43
D.$133,211.26
Mathematics
2 answers:
AysviL [449]3 years ago
8 0

Answer:

$107,193.28

Step-by-step explanation:

Alborosie3 years ago
6 0
Present value = 135000
Monthly interest, i = 0.06/12 = 0.005
Monthly payment, A= 869.81

Future value of loan after 16 years
F=P(1+i)^n      [compound interest formula]
=135000(1+.005)^{16*12}
=351736.652

Future value of payments after 16 years
\frac{A((1+i)^n-1)}{i}
=\frac{869.81((1+0.005)^{16*12}-1)}{0.005}
=279287.456

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
A=\frac{P(i*(1+i)^n)}{(1+i)^n-1}
=\frac{135000(0.005*(1+0.005)^{25*12}}{(1+0.005)^{25*12}-1}
=869.806892

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>
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A recent survey of
Serga [27]

Answer:

The total number of students in a survey is 300.

Let the number of junior male(JM) be x and the number of senior males(SM) be y.

Let the number of junior female(JF) be p and the number of senior males(SF) be q.

It is given that there are 160 males, 80 junior females, 130 seniors.

Since number of males are 160. So the number of females are,

300-160=140

Since number of junior females is 80.

JF+SF=140\\80+SF=140\\SF=60

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SM+SF=130\\SM+60=130\\SM=70

Since number of males is 160.

JM+SM=160\\JM+70=160\\JM=90

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6 0
3 years ago
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FinnZ [79.3K]

Step-by-step explanation:

cho f(t)=(t-4)u(t-2)phep bien doi laplace la

F(s)=e^-2s/s^2-2e^-2s/s62

4 0
3 years ago
-26a-19-35=-84 . show work!!
Wewaii [24]

Step-by-step explanation:

-26a-19-35=-84

-26a-19+(19)-35=-84+(19)

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7 0
3 years ago
In a recent year, 27.9% of all registered doctors were female. If there were 53,700 female registered doctors that year, what wa
Elis [28]

Answer:

The total number of registered doctors was 192,473.

Step-by-step explanation:

This question can be solved using a rule of three.

53700 is 27.9% = 0.279. The total number of registered doctors is x, which is 100% = 1. So

53700 doctors - 0.279

x doctors - 1

0.279x = 53700

x = \frac{53700}{0.279}

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Rounding to the nearest whole number.

The total number of registered doctors was 192,473.

5 0
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ZanzabumX [31]
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3 years ago
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