To reduce a fraction, divide the numerator and the denominator equally until they reach the simplest whole number possible.
In this case, the numerator (720) and the denominator (1080) can both be divided by 360 to get 2/3, our reduced fraction.
Amount of the mortgage after down payment is
160,000−160,000×0.2=128,000
Now use the formula of the present value of annuity ordinary to find the yearly payment
The formula is
Pv=pmt [(1-(1+r)^(-n))÷r]
Pv present value 128000
PMT yearly payment?
R interest rate 0.085
N time 25 years
Solve the formula for PMT
PMT=pv÷[(1-(1+r)^(-n))÷r]
PMT= 128,000÷((1−(1+0.085)^(
−25))÷(0.085))
=12,507.10 ....answer
The person sleeps 8 hours a day.
There are 365 days in a year and 366 days in a leap year.
A leap year occurs every 4 years.
If we divide 75 by 4, we get 18.75. This number represents how many leap years occurred in 75 years. So, the person experienced approximately 19 leap years.
19 leap years has 6954 days.
The other 56 years, which have 365 days each year, have a total of 20,440 days.
That's a total of 27,394 days.
27,394 × 8 = 219,152 hours
This is approximately 24 years or 9,131 days.
