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BabaBlast [244]
3 years ago
9

In the 1980s an average mortgage rate was around 18.5 how much less per month would a 150000 30 year mortgage by today if the cu

rrent rate were 5 %
Mathematics
1 answer:
lianna [129]3 years ago
7 0

Answer:

  $1516.69 per month less

Step-by-step explanation:

The formula for the monthly payment A on a loan of principal P, annual rate r, for t years is ...

  A = P(r/12)/(1 -(1 +r/12)^(-12t))

For the 18.5% loan, the monthly payment is ...

  A = 150000(.185/12)/(1 -(1 +.185/12)^(-12·30)) ≈ 2321.92

For the 5% loan, the monthly payment is ...

  A = 150000(.05/12)/(1 -(1 +.05/12)^-360) ≈ 805.23

The mortgage at 5% would be $1516.69 less per month.

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BartSMP [9]

Answer:

  • 2 3/20 m

Step-by-step explanation:

The area is the product of the length and width

  • The area = 7 1/6 m² = 43/6 m²
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Width = ?

  • A = lw
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  • w = 43/6 ÷ 10/3 = 43/6 × 3/10 = 43/20 = 2 3/20 m

The width is 2 3/20 m

4 0
3 years ago
(5ab-4a-6)-(4ab-1) find the sum please fast
jekas [21]

We need to get rid of expression parentheses.

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7 0
3 years ago
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ruslelena [56]

Answer:

175 hope this helps


Step-by-step explanation:

Add 72 and 113

then subtract that from 360


8 0
3 years ago
Marissa purchased a couch from The Furniture Find for $700 and agreed to purchase it on credit through the store. She was charge
Bad White [126]

Answer:

The interest is $35 so it ends up costing her $70

Step-by-step explanation:

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3 years ago
If a person gets paid $290 a load and receive 5% increase on top of that, how much more is he getting paid?
lesya [120]
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3 years ago
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