1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Finger [1]
4 years ago
6

Brandon has a 15-year fixed rate mortgage for $175,000 with monthly payments of $1,480.97. The annual interest rate is 6%. What

is the total cost of the principal and interest for this loan rounded to the nearest dollar
Mathematics
1 answer:
mylen [45]4 years ago
4 0
Amortization Solution:

A= P[[r(1+r)^n]/[((1+r)^n)-1)]]
P= $175,000
r= .06/12; divide interest rate by 12 to get monthly interest  of 0.005
n=15*12=180; multiply by 12 to get the total number of payments
A= $87500  is the total cost of principal with interest rate of 0.5% monthly
You might be interested in
Can someone please give me a thorough explanation of how to do this? It would help a lot if you did it fast. (If it's thorough e
mezya [45]
Hi there!
To write a equation of a graph, we must follow the formula y = mx + b, where m is the slope and b is the y-intercept. In this scenario, we can utilize this formula to get our answer. First, let's take a look at the y-intercept. To find this, we need to take a look at the graph. We can see that the line crosses the y-axis at the point (0,250). Hence, 250 will be our y-intercept. Now, we can move on to the slope. This can be found by first taking two points from our graph. Here are the two points I'll be using - (0,250)(2,200). Now, use the slope formula, which goes as m = y₂ - y₁ / x₂ - x₁. All we have to do is plug in the respective values from the coordinate points. We get - 

m = 200 - 250 / 2 - 0
m = -50 / 2
m = -25

Using the information we have derived, we can construct the equation y = -25x + 250. Usually, the answer should be written in standard form, which goes as Ax + By = C, where A, B, and C are numbers. Therefore, to derive y = -25x + 250 into standard format, we must add 25x to both sides. This gives us y + 25x = 250. Hope this helped and have a marvelous day!
4 0
4 years ago
QUICKEST AND BEST ANSWER GETS BRAINLIEST
murzikaleks [220]

B. or C.

hope im correct

8 0
3 years ago
Read 2 more answers
How many fiction and nonfiction books are there in the class library altogether
Marta_Voda [28]

Answer:

u gave no other info

Step-by-step explanation:

3 0
3 years ago
Exercise No. 1
Leya [2.2K]

Answer:

don't get it I don't know how to do it

8 0
3 years ago
A. 72t + 8 a. 36z + 72 b. 3r + 3s​
Vesna [10]

Answer:

?

Step-by-step explanation:

4 0
3 years ago
Other questions:
  • Can someone help me please
    11·1 answer
  • Two angle measures a-32 b-47 what is the length of the side between them?
    10·1 answer
  • What is the sum of the series? ​ ∑ i=1 5 4i ​ Enter your answer in the box.
    12·2 answers
  • A pole that is 3 m tall casts a shadow that is 1.74 m long at the same time a nearby building casts a shadow that is 50.75 m lon
    9·1 answer
  • Two points are located at (−9,−8) and (−6,−4).
    5·2 answers
  • The length of a rectangle is 2cm longer than the width. The perimeter is 56 cm. Find the length and width.
    6·2 answers
  • 46. F'(4), where F(x) = x2 f(x)
    8·2 answers
  • Find the missing quantity in the double number line.
    12·2 answers
  • 4x+2y=18, 5x+4y=13<br> what is the value of x and y
    11·1 answer
  • Find the equation for the line that passes through the points (1, 1) And (3, 5)
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!