Answer:
1
Step-by-step explanation:
Two ordered pairs that can be seen are (0,1) and (1,2)
Using delta y/ delta x,
(2-1)/(1-0) = slope
slope = 1/1
slope = 1
Answer:
8% is equivalent to the fraction 8/100
Step-by-step explanation:
1.2 is it as a decimal or 0.5
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.
