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GarryVolchara [31]
3 years ago
9

mark and his three friends ate out at applebees their bill totaled $52.35 if they left the server a 20% tip how much would each

person pay spliyting the bill evenly?
Mathematics
2 answers:
steposvetlana [31]3 years ago
8 0
Do the same thing as the previous question.
52.35 times 1.20 would give you 62.82
Now divide 62.82 by 3 because there are 3 people and you get 20.94
Katena32 [7]3 years ago
3 0
Each person will pay 15.70
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11. Twyla and Tony have a 30/5 balloon mortgage for $389,900 with a rate of 4.85%. How much will they pay in interest over the l
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Answer:

Explanation:

Twyla and Tony with a balloon mortgage of 30/5 will make constant payments over the space of 5 years and then complete the bulk balloon payment for 25 years remaining.

Given mortgage loan value of $389900

Interest rate of 4.85%

We are asked to calculate the interest over the life of the loan.

We will calculate interest by calculating constant payments over the period of 5 years before balloon payment is due and adding them together then subtracting the mortgage loan given $389900

Formula for constant payments :

A= P×r×r(1+r)^n/(1+r)^n-1

Where A= constant/monthly payments

r= interest rate on the mortgage loan

n= number of payments = 30×12= 360

P= mortgage loan given

A= $389900×0.0485×0.0485(1+0.0485)^360/(1+0.0485)^360-1

=$389900×0.0485×1231340.79/25388468.94

=$389900×0.0485×0.04850

A= $917.142

Payment for five years(with interest)= $917.142×60= $55028.52

Calculate balloon payment:

FV= PV(1+r)^n - P((1+r)^n-1/r)

Where FV= future value of balloon payment

PV= initial loan given

r= interest rate on loan

n= number of payments

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Substitute:

FV= $389900(1+0.0485/12)^60-917.142((1+0.0485/12)^60-1/0.0485/12)

=$389900×1.2738-917.142(0.2738/0.004041)

=$389900×1.2738-917.142×67.756

= 496654.62-62141.87

FV = $434512.75

Therefore total payment made with interest over the life of the loan= balloon payment+ constant payments for five years= $434512.75+$55028.52

=

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