What is true of an adjustable rate mortgage?

Mathematics

1 answer:

Varvara68 [4.7K]3 years ago

5 0

Answer: B. the interest rate may change depending on the condition of the economy.

Step-by-step explanation:

By definition, in a adjustable-rate mortgage (which can be identified as ARM), the interest rates can fluctuates, this means that it can change periodically.

Therefore, the interest rate is fixed for a period of time and then it varies based on the index it is tied to. This index is set by market situation.

Then, keeping this on mind, the correct answer is the option B, which is: The interest rate may change depending on the condition of the economy.

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Marty made a $220 bank deposit using $10 bills and $5 bills. She gave the teller a total of 38 bills, how many $5 bills were in

Luda [366]

ANSWER: 32 five-dollar bills

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EXPLANATION:

Let x be number of $5 bills

Let y be number of $10 bills

Since we have total of 38 bills, we must have the sum of x and y be 38

x + y = 38 (I)

Since the total amount deposited is $220, we must have the sum of 5x and 10y be 220 (x and y are just the "number of" their respective bills, so we multiply them by their value to get the total value):

5x + 10y = 220 (II)

System of equations:

$\left\{ \begin{aligned} x + y &= 38 && \text{(I)} \\ 5x + 10y &= 220 && \text{(II)} \end{aligned} \right.$