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9966 [12]
3 years ago
15

Jamie purchased a condo in Naples, Florida, for $699,000. She put 20% down and financed the rest at 5% for 35 years. What are Ja

mie's total finance charges?
Mathematics
1 answer:
EleoNora [17]3 years ago
8 0
The payments are ...
  A = P(r/n)/(1 -(1+r/n)^(-nt))
where P is the principal amount, $699,000*0.80 = $559,200
  r is the annual interest rate, 0.05
  n is the number of compoundings per year, 12
  t is the number of years.
Then
  A = 559,200*(0.05/12)/(1 -(1 +0.05/12)^(-12*35)) = 2822.21

The total of 420 of these payments is $1,185,328.20, which is $626,128.20 more than the loan amount.

Jamie's total finance charge is about $626,128.20.


_____
There is always some minor adustment required in the amount of the last payment. That has not been taken into account here.
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The owner of a convenience store keeps track of how many customer buy lunch food during the "noon rush" each day for four days a
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c) 62.

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Let x represent number of customers came in on the fifth day.

We have been given that the mean number of customers for those four days is 52. So total number of customers on 4 days would be 4 times 52 that is 208 customers.

We know that mean of a data set is equal to sum of all data points divided by number of data points.

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4 0
3 years ago
<img src="https://tex.z-dn.net/?f=%5Cfrac%7B3%2F7%7D%7B7%5Csqrt%7B10%7D%2F2%20%7D" id="TexFormula1" title="\frac{3/7}{7\sqrt{10}
VashaNatasha [74]

Multiply the numerator and denominator by 7×2 = 14 to eliminate the denominators of those fractions:

\dfrac{\dfrac37}{\dfrac{7\sqrt{10}}2}\times\dfrac{14}{14}=\dfrac{3\times2}{7\sqrt{10}\times7}=\dfrac6{49\sqrt{10}}

Rationalize the denominator by multiplying both numerator and denominator by √10:

\dfrac6{49\sqrt{10}}\times\dfrac{\sqrt{10}}{\sqrt{10}}=\dfrac{6\sqrt{10}}{49(\sqrt{10})^2}=\dfrac{6\sqrt{10}}{49\times10}=\dfrac{6\sqrt{10}}{490}

Lastly, cancel the common factor of 2 in both the numerator and denominator (which comes from 6 = 2×3 and 490 = 2×245):

\dfrac{6\sqrt{10}}{490}=\dfrac{3\sqrt{10}}{245}}

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3 years ago
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