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Natasha2012 [34]
3 years ago
15

2. Kerry has a $1,973-per-month mortgage payment. He decides to refinance his $204,000 balance at 5% over 20 years. What's his n

ew monthly payment?
Mathematics
1 answer:
klemol [59]3 years ago
5 0

The formula for the amount of a monthly payment A on principal amount P at interest rate i loaned for t years is given by

... A = P(i/12)/(1 -(1 +i/12)^(-12t))

Filling in the given values, this is

... A = $204000(.05/12)/(1 -(1 +.05/12)^(-12·20)) ≈ $1346.31

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A model of a famous statue is 2 1/2 inches tall. The actual statue is 3 1/3 feet tall. What is the ratio of the height of the mo
Gekata [30.6K]

1. A model of a famous statue is 2\dfrac{1}{2} inches tall that is

\dfrac{2\cdot 2+1}{2}=\dfrac{5}{2} in.

2. The actual statue is 3\dfrac{1}{3} feet tall that is

\dfrac{3\cdot 3+1}{3}=\dfrac{10}{3}\ ft=\dfrac{10}{3}\cdot 12=40\ in.

3. The ratio of the height of the model to the height of the actual statue in simplest form is

\dfrac{\dfrac{5}{2}}{40}=\dfrac{5}{2}\cdot \dfrac{1}{40}=\dfrac{1}{16}.

Answer: \dfrac{1}{16}.

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6 0
4 years ago
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How to solve this problem??
slega [8]
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3 years ago
During a store's closing sale, everything is 65% off. Vikram goes into the store to buy a shirt and a pair of pants, and spends
saw5 [17]

Answer:

without the sales, he would have spent $44.57

Step-by-step explanation:

Let the amount he would have spent without the sales be x. Now, if there is a 65% discount, what this means is that he is exactly paying for 100 - 65% = 35%

Now, it is this 35% of X that is equal to the amount he paid

Thus, mathematically, we have the following;

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x = 1560/35

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This means that without the sales discount, he would have paid $44.57

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Nataliya [291]
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3 years ago
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