The applicable formula is
A = P(r/12)/(1 -(1+r/12)^(-12n))
where P is the principal amount,
r is the annual interest rate (compounded monthly), and
n is the number of years.
Using the formula, we find
A = 84,400*(0.04884/12)/(1 -(1+0.04884/12)^(-12*15))
= 84,400*0.00407/(1 -1.00407^-180)
= 343.508/0.518627
≈ 662.34
The monthly payment on a mortgage of $84,400 for 15 years at 4.884% will be
$662.34
Answer:
X=the smaller
y=the larger
The bigger of two numbers is four more than the smaller, then:
y=x+4
one more than twice the smaller is the same as the larger, then
1+2x=y
We have the following system of equations:
y=x+4
y=2x+1
We solve this system by equal values method:
x+4=2x+1
x-2x=1-4
-x=-3
x=3
We find the value of "y"now:
y=x+4
y=3+4
y=7
the values of x and y are:
x=3
y=7
Step-by-step explanation:
Answer:
2
Step-by-step explanation:
Answer:
The last choice.
Step-by-step explanation:
The value of k must be restricted from being one that makes the original denominator zero. Hence k ≠ -1 or 5.
Answer:
The first blank is 20 and the second one is 1.25
Step-by-step explanation:
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