In this case we have an ARM fixed for 6 years and adjust after the initial first 6 years every 2 years after. The basic idea behind a ARM is that the interest changes periodically, but since our ARM is fixed for 6 years, our going to calculate the monthly payment during the initial period using the formula:
![m= \frac{P( \frac{r}{12}) }{1-(1+ \frac{r}{12})^{-12t} }](https://tex.z-dn.net/?f=m%3D%20%5Cfrac%7BP%28%20%5Cfrac%7Br%7D%7B12%7D%29%20%7D%7B1-%281%2B%20%5Cfrac%7Br%7D%7B12%7D%29%5E%7B-12t%7D%20%20%7D%20)
where
![m](https://tex.z-dn.net/?f=m)
is the monthly payment
![P](https://tex.z-dn.net/?f=P)
is the amount
![r](https://tex.z-dn.net/?f=r)
is the interest rate in decimal form
![t](https://tex.z-dn.net/?f=t)
is the number years
First we need to convert our interest rate of 4% to decimal form by dividing it by 100%:
![\frac{4}{100} =0.04](https://tex.z-dn.net/?f=%20%5Cfrac%7B4%7D%7B100%7D%20%3D0.04)
We also know from our question that
![P=224500](https://tex.z-dn.net/?f=P%3D224500)
and
![t=30](https://tex.z-dn.net/?f=t%3D30)
, so lets replace those values into our formula to find the monthly payment:
![m= \frac{224500( \frac{0.04}{12}) }{1-(1+ \frac{0.04}{12})^{-(12)(30)} }](https://tex.z-dn.net/?f=m%3D%20%5Cfrac%7B224500%28%20%5Cfrac%7B0.04%7D%7B12%7D%29%20%7D%7B1-%281%2B%20%5Cfrac%7B0.04%7D%7B12%7D%29%5E%7B-%2812%29%2830%29%7D%20%20%7D%20)
![m=1071.80](https://tex.z-dn.net/?f=m%3D1071.80)
We can conclude that the monthly payment during the initial period is $1071.58<span />
Answer:
Option 3
Step-by-step explanation: I think it is option 3
Step-by-step explanation:
3/2(4x-1)-3x = 5/4-(x+2)
6x -3/2 -3x = 5/4 -x -2
3x -3/2 = 5/4-2-x
4x=5/4 -2 +3/2
4x= (5-8+6)/4
4x=3/4
x=3/16
Well I don't know if i'm answering the question, but 30 workers surveyed were satisfied with the benefits they received from the employers because 300 multiplied by .10 is 30. Hope my answer is useful.
Answer:
Step-by-step explanation:
i dont know