1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
luda_lava [24]
4 years ago
9

Chris and Becky are comparing mortgages. The mortgage is for $183,500. If they choose 30 years at 5%, their monthly payment will

be $985.07. If they choose 20 years at 4.5%, their monthly payment will be $1160.91. How much will be the total payback amount for each loan?
Mathematics
2 answers:
soldi70 [24.7K]4 years ago
5 0

Answer:

For 30 years at 5% = $354,625.2

For 20 years at 4.5% = $278,618.4

Step-by-step explanation:

The total payback for each payment is given by the monthly payment multiplied by the total number of months for the payment period (years).

1) For 30 years at 5%

Total number of months in 30 years = 30 x 12 = 360 months

Payback = $985.07 x 360 = $354,625.2

2) For 20 years at 4.5%

Total number of months in 20 years = 20 x 12 = 240 months

Payback = $1160.91 x 240 = $278,618.4

vaieri [72.5K]4 years ago
3 0

Answer:

Total payback for Loan type 1 = $354,625.20

Total payback for Loan type 2 = $278,618.40

Explanation

Total payback of a loan consists of the summation of the amount of mortgage to be paid and total interest to be paid after the given number of years.

Total payback of a loan can also be calculated by multiplying your monthly payment of the loan by the total number of months given for payment.

a. For Loan type 1

In the question we have been given or monthly payment = $985.07

The formula for Total payback for Loan type 1 = Monthly payment × number of months

Numbers of years for payment of loan = 30 years

1 years = 12 months

Hence,

Number of months = 30 years × 12 months

Number of months = 360 months

Total payback of loan = $985.07 × 360 months

= $354,625.20

b. For Loan type 2

In the question we have been given or monthly payment = $1160.91

The formula for Total payback for Loan type 1 = Monthly payment × number of months

Numbers of years for payment of loan = 30 years

1 years = 12 months

Hence,

Number of months = 20 years × 12 months

Number of months = 240 months

Total payback of loan = $1160.91 × 240 months

= $278,618.4

You might be interested in
The figure shows a construction completed by hand.
Tresset [83]

Based on the construction, we can logically deduce that: A. yes; the compass was kept at the same width to create the arcs for points C and D.

<h3>What is a line segment?</h3>

A line segment can be defined as the part of a line in a geometric figure such as a triangle, circle, quadrilateral, etc., that is bounded by two (2) distinct points and it typically has a fixed length.

In Geometry, a line segment can be measured by using the following measuring instruments:

  • A scale (ruler)
  • A divider
  • A compass

<h3>What is an arc?</h3>

In Geometry, an arc can be defined as a trajectory that is generally formed when the distance from a given point has a fixed numerical value.

Based on the construction with arcs created above and below the line segment from points A, we can infer and logically deduce that it is true that the compass was kept at the same width to create the arcs for points C and D.

In conclusion, yes, the construction demonstrated how to bisect a line segment correctly by hand.

Read more on arcs here: brainly.com/question/11126174

#SPJ1

Complete Question:

The construction has a given segment AB. Arcs have been created above and below the segment from points A that are equidistant from point A. The compass was kept at the same distance, placed on point B, and two additional arcs were created above and below the segment that intersect with the first arcs created. The intersection of the arcs above the segment created point C. The intersection of the arcs below the segment created point D. A line was drawn from point C to D through the segment.

Does the construction demonstrate how to bisect a segment correctly by hand?

A. Yes; the compass was kept at the same width to create the arcs for points C and D.

B. Yes; a straightedge was used to create segment CD.

C. No; the compass was not kept at the same width to create the arcs for points C and D.

D. No; a straightedge was used to create segment CD.

7 0
2 years ago
2 For each figure, are 21 and 22 adjacent angles or vertical angles? Explain.<br> b.<br> a.<br> 2
kupik [55]

Answer:

a is vertical and b is adjacent angles

3 0
3 years ago
A company is selling toothpicks. It costs $0.01 to produce each toothpick and a fixed cost of $60 a month for the company. If th
Lapatulllka [165]

Answer:

6,000 toothpicks

Step-by-step explanation:

In this question, we are trying to evaluate the number of toothpicks a company must sell to ensure that the money spent on production is exactly equal to revenue from sales.

What we do is this!

Let’s assign a variable to represent the number of tooth picks sold and produced by the company. Let us call this number x.

First, we evaluate the total amount spent on production of x toothpicks. From the question, we can see that the cost of producing a single toothpick is $0.01, hence, to produce x toothpicks, amount spent asides the fixed cost is $0.01 * x = $0.01x

Now, the total cost on production which includes the fixed cost of the company would be $(0.01x + 60). This is the total amount spent to produce the goods.

Now revenue from sales for x toothpicks at $0.02 each is $0.02x

Since we are looking to Breakeven, we equate the costs to the revenue.

0.01x + 60 = 0.02x

0.02x-0.01x = 60

0.01x = 60

x = 60/0.01 = 6,000 toothpicks

6 0
3 years ago
Which inequality represents the graph below?
telo118 [61]

Answer:

The answer is B

the shaded part is below which signifies a less than sign

so you can cross out options A and C

now make y=0

for option B, it will give √Xless than or equal to √4

for option D, it will give √4 less than or equal to √x

to bring √x to the other side, the inequality sign will change to greater than

Therefore the answer is B

7 0
2 years ago
Solve for x and y
bekas [8.4K]

Answer:

x = 2√2

y = 2√6

Step-by-step explanation:

Consider the ratio of the two legs of the two smaller interior right triangles. (refer to attached diagrams for the triangles - I have outlined one in blue and the other in red)

These will be equal since the triangles are similar

shorter leg : longer leg

(blue triangle = red triangle)

⇒ x : 4 = 2 : x

⇒ x/4 = 2/x

⇒ x² = 8

⇒ x = √8

⇒ x = 2√2

Now we have x, we have the two legs of the right triangle with hypotenuse labelled y.

Using Pythagoras' Theorem a² + b² = c² (where a and b are the legs and c is the hypotenuse)

⇒ 4² + (2√2)² = y²

⇒ y² = 24

⇒ y = √24

⇒ y = 2√6

7 0
2 years ago
Other questions:
  • Solve the differential equation.<br><br> (y^2 + xy^2)y' = 1
    10·1 answer
  • What is percent probability
    15·1 answer
  • Note: Enter your answer and show all the steps that you use to solve this problem in the space provided. Write and solve an equa
    12·1 answer
  • Solve the system of equations using substitution -3x + 2y = 12 x = 2y - 8
    13·1 answer
  • Sketch the parabola y = x2 + 4x – 5.
    12·1 answer
  • Find the value of this expression if x = 5 and x=2<br> xy^2 / -3
    13·1 answer
  • What is the solution to the system of equations​
    13·1 answer
  • You bought a atv worth $3500 the value depreciates by 10% each year how much will the atv be worth after 5 years
    8·1 answer
  • When you multiply a number by 12 and subtract the product from 360, the difference is 216. Find the number.
    11·1 answer
  • Auto Needs has oil on sale at 3 quarts for
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!