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nika2105 [10]
3 years ago
13

Suppose that you would like to buy a home priced at $200,000. You plan to make a payment of 10% of the purchase price and pay 1.

2% of the purchase price into an
escrow account annually.
a. Compute the total monthly payment and the total interest paid over the life of the loan for a 30-year mortgage at 4.8% annual interest.
b. Compute the total monthly payment and the total interest paid over the life of the loan for a 20-year mortgage at 4.8% annual interest.

Mathematics
1 answer:
Elina [12.6K]3 years ago
4 0

Answer:

  see below

Step-by-step explanation:

When you must do the same tedious calculation several times with different numbers, it is convenient to let a spreadsheet program do it for you. Here, the spreadsheet function PMT( ) computes the payment amount for the given interest rate, number of payments, and loan amount.

The loan amount is 90% of the purchase price.

The total interest over the life of the loan is the sum of the payments less the original loan amount.

The total monthly payment is the sum of the loan payment and the monthly escrow amount, which is 1/12 of the annual escrow amount.

_____

Here, we computed the total of payments using the unrounded "exact" value of each payment. We take this to be a better approximation of the total amount repaid, since the last payment always has an adjustment for any over- or under-payment due to rounding.

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Answer:

She earns 5.5 dollars per hour at the library

Step-by-step explanation:

I am going to assume that the questions is "how much she earns per hour at the library?"

Let's call x the amount of dollars earn by hour at the library. We know that she worked for 6 hours, thus she made 6x dollars.

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Let's write the equation and solve it

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Thus, based on this information we would have that Kia earns 5.5 dollars per hour.

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2 years ago
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Step-by-step explanation:

the answer is

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7 0
3 years ago
Please answer correctly! I will mark you as Brainleist!
kiruha [24]

Answer:

V ≈ 1847.26

Step-by-step explanation:

<u>Circular Cone Formulas in terms of radius r and height h:</u>

The volume of a cone:

V = (1/3)πr2h

Slant height of a cone:

s = √(r2 + h2)

Lateral surface area of a cone:

L = πrs = πr√(r2 + h2)

The base surface area of a cone (a circle):

B = πr2

The total surface area of a cone:

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2 years ago
5(2f+3)+7. please simplify
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Hi there!

5(2f+3)+7
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Hope this helps!
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3 years ago
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