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
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.

You might be interested in
Brainliest question please help please help me now plz
Kruka [31]

Answer:

Option A)   Inside the circle

Step-by-step explanation:

step 1

Find the radius of the circle

we know that

The radius is equal to the distance from the center to any point on the circle

the formula to calculate the distance between two points is equal to

d\sqrt{(y2-y1)^2+(x2-x1)^2 }

we have

A(-5,-8),M(-1,-3)

substitute the values

r=\sqrt{(-3+8)^{2}+(-1+5)^{2}}

r=\sqrt{(5)^{2}+(4)^{2}}

r=\sqrt{41}\ units

step 2

Find the distance from the center to point V

we know that

If the distance from the center to point V is equal to the radius, then the point V lie on the circle

If the distance from the center to point V is less than the radius, then the point V lie inside the circle

If the distance from the center to point V is greater than the radius, then the point V lie outside the circle

we have

A(-5,-8),V(-11,-6)

substitute in the formula

d=\sqrt{(-6+8)^{2}+(-11+5)^{2}}

d=\sqrt{(2)^{2}+(-6)^{2}}

d=\sqrt{40}\ units

so

\sqrt{40}\ units< \sqrt{41}\ units

The distance from the center to point V is less than the radius

therefore

The point V lie inside the circle

Hope that helped :)

8 0
3 years ago
What is the solution to the system of equations?
alukav5142 [94]

Answer:

  (x, y) = (-4, 15)

Step-by-step explanation:

The two equations have the same coefficient for y, so you can eliminate y by subtracting one equation from the other. Here the x coefficient is largest for the first equation, so it will work best to subtract the second equation.

  (3x +y) -(2x +y) = (3) -(7)

  x = -4 . . . . . . . . simplify

Now, we can find y by substituting this value for x.

  2(-4) +y = 7

  y = 7 +8 = 15 . . . . . add 8 to both sides of the equation

The solution is (x, y) = (-4, 15).

6 0
3 years ago
Twice the difference of a number and six is the same as twelve . Write into algebraic equation
DiKsa [7]

Answer:

2(n-6)=12

(I went too far in my explanation; I'm not going to erase it because I think it is important to have an example on solving these)

Step-by-step explanation:

Twice the difference of a number and 6 is the same as 12.

Twice means 2 times

Difference means the result of subtracting something.

is the same as means equal to (=).

So we are given 2(n-6)=12.

You can start by dividing 2 on both sides are distributing 2 to terms in the ( ).

I will do it both ways and you can pick your favorite.

2(n-6)=12

Divide both sides by 2.

 n-6  =6

Add 6 on both sides

 n     =12

OR!

2(n-6)=12

Distribute 2 to both terms in the ( )

2n-12=12

Add 12 on both sides

2n    =24

Divide both sides by 2

n       =12

4 0
3 years ago
What is the measure of angle Q to the nearest whole degree?<br> 43°<br> 49°<br> 53°<br> 58°
geniusboy [140]

Answer:

m∠Q ≈ 53°

Step-by-step explanation:

To find the measure of ∠Q, the law of cosines will need to be used. Lowercase letters represent the side lengths, while upper case letters represent angles.

In this situation, 'A' will be ∠Q. Therefore:

17² = 18² + 20² -2(18)(20)cosQ

Simplify:

289 = 324 + 400 -2(360)cosQ

Continue simplifying down:

-435 = -720cosQ

Divide both sides by '-720':

0.604 = cosQ

cos^{-1}Q = 0.604

m∠Q ≈ 52.83 or 53° rounded to the nearest whole degree.

3 0
3 years ago
Share £56 in the ratio 3:4
vagabundo [1.1K]

Answer:

£24 : £32

Step-by-step explanation:

Add the parts of the ratio 3 + 4 = 7

Divide the amount by 7 to find the value of one part

£56 ÷ 7 = £8 ← one part of the ratio

3 parts = 3 × £8 = £24

4 parts = 4 × £8 = £32

8 0
3 years ago
Other questions:
  • Determine which fraction is greater. 11 over 15 comma 14 over 27
    11·1 answer
  • Which equation or graph represents a non proportional relationship
    15·1 answer
  • Is it possible for 0 and a positive number to have a common multiple?
    11·2 answers
  • A coin is loaded so that the probability of getting heads is 3/4. If the coin is flipped twice, what is the probability of getti
    7·1 answer
  • Please number the answer I need help
    14·1 answer
  • What is the quotient of a number and 4 is -7
    5·1 answer
  • How to spell 26 in word form
    12·1 answer
  • Help Me Please.............................(7)
    15·1 answer
  • Giving brainliest answer
    6·1 answer
  • What is the vertex of this quadratic function?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!