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.
Answer:
- x = 8
- 12 = BD
- 23 = BE
- 13 = CE
Step-by-step explanation:
<u>We know that:</u>
- BD = 2x - 4
- DE = 2x - 3 - 2
- BE = 3x - 1
- CE = 2x - 3
<u>Solution:</u>
- (2x - 4) + (2x - 3 - 2) = 3x - 1
- => 2x - 4 + 2x - 3 - 2 = 3x - 1
- => 4x - 9 = 3x - 1
- => 4x - 3x = 9 - 1
- => x = 8
- => 2x - 4 = BD
- => 2(8) - 4 = BD
- => 16 - 4 = BD
- => 12 = BD
- => 3x - 1 = BE
- => 3(8) - 1 = BE
- => 24 - 1 = BE
- => 23 = BE
- => 2x - 3 = CE
- => 2(8) - 3 = CE
- => 16 - 3 = CE
- => 13 = CE
Hence, the answers are:
- x = 8
- 12 = BD
- 23 = BE
- 13 = CE
11 plus what number equals 16 in order to complete your problem.
Answer:
$225
Step-by-step explanation:
When Mary pays the cost in 12 equal payments, each is 1/12 of the total amount.
__
1/12 × $2700 = $225
Mary will have to pay $225 each month.
The given sequence is
a₁ = 29
a₂ = 39
a₃ = 49
a₄ = 59
This sequence is an arithmetic sequence. Th first term is a₁ = 29, and the common difference is d= 10.
The n-th term is
The 33-rd termis
a₃₃ = 29 + (33 - 1)*10
= 29 + 320
= 349
Answer: a₃₃ = 349
