Can someone help me in 5 and 7 please

Mathematics

1 answer:

pav-90 [236]2 years ago

4 0

Write -22 in the middle of the graph, number the rest of the graph accordingly and draw an open circle around the line under the -22 and draw a line along the graph to the right

Write 15 in the middle of the graph and number the rest of the graph accordingly, draw a colored in circle under the 15 on the graph and draw a line to the to the right

Sorry, I'm on the road and couldn't take a picture of the solution

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Enos took out a 25-year loan for $135,000 at an APR of 6.0%, compounded monthly, and he is making monthly payments of $869.81. W

Alborosie

Present value = 135000
Monthly interest, i = 0.06/12 = 0.005
Monthly payment, A= 869.81

Future value of loan after 16 years
$F=P(1+i)^n$ [compound interest formula]
$=135000(1+.005)^{16*12}$
$=351736.652$

Future value of payments after 16 years
$\frac{A((1+i)^n-1)}{i}$
$=\frac{869.81((1+0.005)^{16*12}-1)}{0.005}$
$=279287.456$

Balance = future value of loan - future value of payments
=351736.652-279288.456
= $ 72448.20

Note: the exact monthly payment for a 25-year mortgage is
$A=\frac{P(i*(1+i)^n)}{(1+i)^n-1}$
$=\frac{135000(0.005*(1+0.005)^{25*12}}{(1+0.005)^{25*12}-1}$
$=869.806892$

Repeating the previous calculation with this "exact" monthly payment gives
Balance = 72448.197, very close to one of the choices.

So we conclude that the exact value obtained above differs from the answer choices is due to the precision (or lack of it) of the provided data.

The closest choice is therefore <span>$72,449.19</span>

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