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3 years ago

7

Stephanie finances $423,000 with a 20/5 balloon mortgage at 4.45%. How much will she pay for principal and interest over the lif

e of the loan? Can someone show me how to solve the answer?
A. $508,077.56
B. $509,378.67
C. $510,674.71
D. $505,422.01

2 answers:

baherus [9]3 years ago

8 0

The answer is C I think
Hope this helps :)

gtnhenbr [62]3 years ago

5 0

It is b.509,378.67
just add then multiply

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Setler [38]

23. If M' represents the complementary, then is the answer A.

24. The answer is C.

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CAN SOMEONE HELP ME PLEASE ASAP!?

Ganezh [65]

Answer c explanation

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2 years ago

Need help asap important! thanks so much!

a_sh-v [17]

Answer:

You would have $343.37 at the end of the 2 years.

Step-by-step explanation:

Interest earned is like bonus money the bank pays you just for keeping money

$\mathrm{Compund\:Interest\:Formula}:\quad A = P { \left( 1+ \dfrac{ r }{ n } \right) }^{ nt }$

P: the starting balance of the account (also called initial deposit, or principal)

A: the new balance in the account after N years.

t: the number of years or time

r: the interest rate, (in decimal form)

n: the number of times the interest is compounded each year.

Annually = each year = 1

P =$300, r = 7%, t = 2, n = 1, A = ?

Substitute the numbers into the "Compound Interest Formula".

$A = 300 { \left( 1+ \dfrac{ 0.07 }{ 1 } \right) }^{ 1 \times 2 }$

$\mathrm{Anything\:divided\:by\:1\:gives\:itself}$

$A = 300 { \left( 1+0.07 \right) }^{ 1 \times 2 }$

$\mathrm{Add\:1\:and\:0.07\:to\:get\:1.07}$

$A = 300 \times { 1.07 }^{ 1 \times 2 }$

$\mathrm{Multiply\:1\:and\:2\:to\:get\:2}$

$A = 300 \times { 1.07 }^{ 2 }$

$\mathrm{Calculate\:1.07\:to\:the\:power\:of\:2\:and\:get\:1.1449}$

$A = 300 \times 1.1449$

$\mathrm{Multiply\:300\:and\:1.1449\:to\:get\:343.47}$

$A = 343.47$

So you would have $343.37 at the end of the 2 years.

Look at the chart

$\mathrm{Year}\quad \mathrm{Year\: Interest}\quad \mathrm{Total\:Interest}\quad \mathrm{Balance}\\\quad1\quad\quad\quad $21.00\quad\quad\quad\quad $21.00\quad\quad\quad\quad $321.00\\\quad2\quad\quad\quad $22.47\quad\quad\quad\quad $43.47\quad\quad\quad\quad $343.47$

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2 years ago

Adriana works as a purchasing manager at a trading firm and earns a salary of 60,000 she has deductions of 3000 and tax credit o

steposvetlana [31]

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3 years ago

Read 2 more answers

Find the simple interest for a $8,000 loan for 2 years at a rate of 4% (formula: l=prt)

Natali [406]

Answer:

S.I= 640

Step-by-step explanation:

I=prt

where p= $8,000

and r= 4%

and t= 2 years

$8,000×4%×2

8,000×4/100×2

80×4×2

=640

Therefore The S.I = 640.

6 0

3 years ago