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Ierofanga [76]
3 years ago
10

Jason Aldeen bought a house for $275,000. He made a down payment of 15%. The interest rate is 4.2% for 15 years.

Mathematics
1 answer:
Tpy6a [65]3 years ago
3 0

Answer:

Step-by-step explanation:

Jason's down payment= $41250

Amount he needs to borrow is

275000-41250 = $233750

Jason's monthly payment would be

248476.25/180 = $1380.42

The original cost of the house that Jason Aldeen bought is $275,000. He made a down payment of 15%. This means he paid 15% of the original cost of the house. Therefore,

Jason's down payment is 15% of $275000

= 15/100 × 275000 =0.15×275000

=$41250

Since Jason's down payment is smaller than the original cost of the house, he would need to borrow.

Amount he needs to borrow is

275000-41250 = $233750

If Jason borrows $233750 at a rate of 4.2% for 15 years

Total interest on $233750 for 15 years will be

= (233750×4.2×15) /100

= 14726250/100 = $14726.25

Total amount to be paid for 15 years will be amount borrowed + interest

=233750 + 14726.25 = $248476.25

Converting 15 years to months,

15 × 12 months = 180 months.

Jason's monthly payment would be

248476.25/180 = $1380.42

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Two bonds are available on the market as follows: Bond 1: Face value $250, 5 years to maturity at a (simple) interest rate of 5%
tester [92]

The value of r is 5.95%

Step-by-step explanation:

The formula of the simple interest is I = P r t, where

  • P is the initial amount of money
  • r is the interest rate in decimal
  • t is the time

Bond 1:

∵ The face value is $250

∴ P = 250

∵ The value is in the bond for 5 years

∴ t = 5

∵ The simple interest rate is 5%

∴ r = 5% = 5 ÷ 100 = 0.05

∵ I = P r t

- Substitute the values of P, r and t in the rule

∴ I = (250)(0.05)(5) = 62.5

∴ The interest of Bond 1 is $62.5

Bond 2:

∵ The face value is $350

∴ P = 350

∵ The value is in the bond for 3 years

∴ t = 3

∵ The simple interest rate is r

∵ I = P r t

- Substitute the values of P and t in the rule

∴ I = (350)(r)(3) = 1050 r

∴ The interest of Bond 2 is 1050 r

∵ The both bonds yield the same interest to maturity

- Equate the interests of bonds 1 and 2

∵ 1050 r = 62.5

- Divide both sides by 1050

∴ r = 0.0595

- Multiply it by 100% to change it to percentage

∵ r = 0.0595 × 100% = 5.95%

∴ r = 5.95%

The value of r is 5.95%

Learn more:

You can learn more about interest in brainly.com/question/11149751

#LearnwithBrainly

3 0
3 years ago
Calculate the GPA of a student with the following grades: B (1616 hours), D (77 hours), C (2121 hours). Note that an A is equiva
adell [148]

Answer:

  2.20

Step-by-step explanation:

The GPA is the weighted average of the grade points. The weights are the number of course hours.

  ((16 hours)(3.0) +(7 hours)(1.0) +(21 hours)(2.0))/((16 +7 +21) hours)

  = 97/44 ≈2.20 . . . . GPA

4 0
3 years ago
Explain how to solve 5x2-3x=25 by completing the square. What are the solutions
Vilka [71]

5x2-3x=25

Divide each term by 5:

x^2 - 3/5x = 5

Make a trinomial square of the left side by taking the square of half of the coefficient of x.

The coefficient of x is -3, so the square would be (-3/10)^2

Add that to both sides of the equation.

Now you have:

x^2 - 3/5x + (-3/10)^2 = 5 + (-3/10)^2

Simplify both sides:

x^2 -3/5x +9/100 = 509/100

Factor the trinomial:

(x-3/10)^2 = 509/100

Solve for x, , take the square root of both sides:

x-3/10 = +/-√509 / 100

Simplify the right side:

x-3/10 = +/-√509/10

Add 3/10 to both sides:

X = +/-√509/10 + 3/10 ( this is the exact form)

You can then find the decimal answer if needed.

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Can you help me out.
Murrr4er [49]

Step-by-step explanation:

The first one is (5,2)

4 0
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Landon is building new bookshelves for his bookstore's new mystery section. Each shelf can hold 34
kicyunya [14]

Answer:

39  shelves needed to build

Step-by-step explanation:

<em>To find the number of shelves needed we need to divide the number of mystery books by 34</em>

<em>We know that. Each shelf can hold 34.</em>

<em>It is given that, There are 1,326 mystery books</em>

<em>So, 1,326/34</em>

39  shelves needed to build

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