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AVprozaik [17]
3 years ago
5

Rebecca and Tom Payton have decided to buy a home that costs $200,000. The Paytons can put down 20% of the home's price. They ha

ve applied for a 15-year, 9% FRM to finance the balance. They Paytons have a combined gross annual income of $70,000. Answer the following questions about the Payton's decision.
What is the maximum amount the Paytons should pay each month, according to the 28% rule given in the Background Information in Day 1 of Project 2?
Mathematics
1 answer:
disa [49]3 years ago
4 0
M = P * i (1+i)^n / ((1+i)^n − 1)

where:
M = Mortgage payment
P = Principal amount = $200,000 * 0.80 = $160,000
i = interest rate = 0.09/12 = 0.0075
n = number of payments = 12*15 = 180
M = $160,000 * 0.0075 * 1.0075^180 / (1.0075^180 − 1)
M = $1622.8265
Total paid = 180 * $1622.8365 = $292,108.77
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kifflom [539]
Standard form means, move the variables to the left-hand-side and leave the constant all by herself on the right-hand-side, usually sorting the variables, so"x" goes first.

now, there's a denominator, we can do away with it, by simply multiplying both sides by the denominator, so let's do so,

\bf y=-\cfrac{2}{3}x+7\implies \boxed{3}\cdot y=\boxed{3}\cdot \left( -\cfrac{2}{3}x+7 \right)\implies 3y=-2x+21
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5 0
3 years ago
The depth of water in a reservoir increases from 14m to 15.75m. Work out the percentage increase.
jasenka [17]

Answer:

It was a 12.5% water gain

8 0
3 years ago
Find the derivative of the function using the definition of derivative. g(t) = 7 t g'(t) = State the domain of the function. (En
Vedmedyk [2.9K]

Answer:

R = \{ \forall x \in \mathbf{R}|-\infty <  x < \infty\}

Step-by-step explanation:

The definition of derivative states that:

g'(t) =  \lim_{h \to 0} \frac{g(t+h)-g(t)}{h}

Then:

g'(t) =  \lim_{n \to \infty} \frac{7\cdot (t+h)-7\cdot t}{h}

g'(t) =  \lim_{h \to 0} 7

g'(t) = 7

A constant function is a zero-order polynomial. The domain of any real polynomial is \mathbf{R}. Then, the domain of the function is:

R = \{ \forall x \in \mathbf{R}|-\infty <  x < \infty\}

5 0
2 years ago
Jose has a policy with $50,000 PIP (Personal Injury Protection) coverage. He causes an
Nastasia [14]

Answer: $7200

Step-by-step explanation:

Given

The policy covers the damage of $50,000 PIP

He injured 10 people including himself

The total cost of injuries is $72,000

The cost per person is $7200

The company only pays for the damaged bear by the policyholder, not by the others.

\therefore the company only pays $7200 in coverage.

8 0
2 years ago
What is the slope of the line through (1, -1) and (5. – 7)?
Vladimir [108]

Answer:

-3/2

Step-by-step explanation:

Given two points, we can find the slope by

m = (y2-y1)/(x2-x1)

    = (-7 - -1)/ (5-1)

    = (-7+1)/(5-1)

    = -6/4

    = -3/2

6 0
3 years ago
Read 2 more answers
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