(6.8x10^2) x (1.3x10^-3) answer as standard form
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The total amount Ms. Moore will pay back to the bank is $251,617
Step-by-step explanation:
The formula of the monthly payment is , where
- P is the loan amount
- r is the annual rate in decimal
- n is the number of periods per year
- t is the number of years
∵ Ms. Moore is purchasing a house and needs to finance a
$150,000 mortgage from the bank
∴ P = 150,000
∵ The annual percentage rate (APR) of 3.8%
∴ r = = 0.038
∵ She is financing it over 30 years and making monthly payments
∴ n = 12
∴ t = 30
- Let us substitute all of these numbers in the formula above
to find her monthly payment
∵
∴
∴ M.P = 698.936
∴ Her monthly payment is $698.936
Now multiply her monthly payment by the number of months in 30 years to find the total amount she will pay back to the bank
∵ 1 year = 12 months
∴ 30 years = 30 × 12 = 360
∴ Her total payments = 698.936 × 360
∴ Her total payments = 251,616.97
- Round it to the nearest dollar
∴ Her total payments = 251,617 dollars
The total amount Ms. Moore will pay back to the bank is $251,617
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You can learn more about the mortgage in brainly.com/question/2485860
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Final expression:
Step-by-step explanation:
- During the first day, Samuel buys :
3 pounds of apples for x dollars per pound +
2 bags of spinach for y dollars each
So the amount spent in the first day can be written as
- During the second day, Samuel buys:
5 pounds of apples for x dollars per pound +
3 bags of spinach for y dollars each
So the amount spend in the 2nd days is
Therefore the total amount spent is
And adding the similar terms, we get the final expression:
Learn more about expressions:
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