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Anestetic [448]
3 years ago
14

What are the answers to the "Writing linear equations puzzle"? Plz help!

Mathematics
1 answer:
saveliy_v [14]3 years ago
6 0

Step-by-step explanation:

Can you put a picture or give more information?

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Lenny and Lisa have obtained a 30-year, fixed rate mortgage for $675,250 with a 7.25% interest rate. They purchased 3 points and
Vikentia [17]

Answer:

119 months

Step-by-step explanation:

In this question, we are asked to calculate the amount of time it would take for a break-even point on a mortgage, if there is a factoring in the cost of points.

We proceed to answer the;

Mathematically,

The Break Even Point = Amount Paid for purchasing Discount Points divided by Monthly savings in the interest payments

We lost out the important values given in the question as follows:

Amount of Mortgage - $675,250

Tenure - 30 Years

The Rate of interest without points = 7.25%

The number of points = 3 points

The rate of interest with the 3 points = 6.875%

The amount to be paid for purchasing the discount point is now calculated below;

Since 1 discount point = 1% of mortgage value;

Therefore, 3 discount points = 3% of mortgage value

The amount paid is thus = 3% of $675,250 = $20,257.5

To calculate Monthly payment without points, we use the mathematical formula;

M = P[r(1+r)^n/((1+r)^n)-1)]

Where M

Is monthly payment, r is the interest rate, n is the number of months.

According to the question M = 675,250, r = 7.25% = 7.25/100 = 0.0725 , n= 30 * 12 months = 360 months

M = 675,250[0.0725(0.0725+1)^30/(1+0.0725)^360)-1) = $4606.40

To get the monthly payment with points, we simply use the formula again but this time interest rates will be 6.875% = 0.06875 I.e r = 0.06875

Inputting the terms in the formula will yield a value of $4435.91. This means monthly payment with discount will be $4435.91

Savings in monthly payments after purchasing the discount points = $4,606.40 - $4,435.91 = $170.48

Break Even = Purchase cost of Discount Points / Monthly savings

= $20,257.5 / $170.48

= 119 Months

Hence, the number of months it will take Lisa and Lenny to break-even point on their mortgage will be 119 months

6 0
3 years ago
What is 21 1/4% expressed as a fraction? 13/200 17/80 21/80 17/40
natta225 [31]
The answer is 17/80
Step by step:
Move decimal 2 to the left,
.2125
Then:

2125
____
10000
Then just simplify from there
3 0
2 years ago
<img src="https://tex.z-dn.net/?f=%5Csqrt%7Bx%7D" id="TexFormula1" title="\sqrt{x}" alt="\sqrt{x}" align="absmiddle" class="late
LiRa [457]

4x - 7x - 4x + 7 \sqrt{x}  +  \sqrt{x}

- 7x + 8 \sqrt{x}

5 0
1 year ago
Can you guyz help me with this question step by step please ☺️
zlopas [31]
2 1/2 x 3 = 7 1/2 = 7 4/8

10 11/8
- 7 4/8
3 7/8
A is the correct answer

7 0
2 years ago
Whats the congruence of these two triangles ? none ? sas ? asa ? or sss ?
Ket [755]

Answer:

choice #3) similar by SSS

The corresponding sides do have the correct ratios.

3 0
3 years ago
Read 2 more answers
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