All categories

3 years ago

Jamie purchased a condo in Naples, Florida, for $699,000. She put 20% down and financed the rest at

1 answer:

6 0

By applying the formulas of present and future values of annuity we can solve this problem. In this mortgage problem, first we have to find loan amount after the down payment. It is 699,000 - 699,000 * 0.2 = 559,200$. We have to set it as PV (Present Value) of annuity. Using the PV formula $PV = A \frac{[1- \frac{1}{(1+r)^{N}}]}{r}$ , we first find A, which is an annual payment. Exact calculation with mortgage calculator gives us A = 33,866.56$. After finding it, plugging this number into FV (Future Value) formula $FV = A\frac{[(1+r)^{N}-1]}{r}$ , we find the value of the future value and it is 1,185,329.66$. And the total financial charge is 1,185,329.66 - 559,200 = 626,129.66$

You might be interested in

Determine the singular points of the given differential equation. Classify each singular point as regular or irregular. (Enter y

ludmilkaskok [199]

Answer:

Step-by-step explanation:

Given that:

The differential equation; $(x^2-4)^2y'' + (x + 2)y' + 7y = 0$

The above equation can be better expressed as:

$y'' + \dfrac{(x+2)}{(x^2-4)^2} \ y'+ \dfrac{7}{(x^2- 4)^2} \ y=0$

The pattern of the normalized differential equation can be represented as:

y'' + p(x)y' + q(x) y = 0

This implies that:

$p(x) = \dfrac{(x+2)}{(x^2-4)^2} \$

$p(x) = \dfrac{(x+2)}{(x+2)^2 (x-2)^2} \$

$p(x) = \dfrac{1}{(x+2)(x-2)^2}$

Also;

$q(x) = \dfrac{7}{(x^2-4)^2}$

$q(x) = \dfrac{7}{(x+2)^2(x-2)^2}$

From p(x) and q(x); we will realize that the zeroes of (x+2)(x-2)² = ±2

When x = - 2

$\lim \limits_{x \to-2} (x+ 2) p(x) = \lim \limits_{x \to2} (x+ 2) \dfrac{1}{(x+2)(x-2)^2}$

$\implies \lim \limits_{x \to2} \dfrac{1}{(x-2)^2}$

$\implies \dfrac{1}{16}$

$\lim \limits_{x \to-2} (x+ 2)^2 q(x) = \lim \limits_{x \to2} (x+ 2)^2 \dfrac{7}{(x+2)^2(x-2)^2}$

$\implies \lim \limits_{x \to2} \dfrac{7}{(x-2)^2}$

$\implies \dfrac{7}{16}$

Hence, one (1) of them is non-analytical at x = 2.

Thus, x = 2 is an irregular singular point.

5 0

3 years ago

Simplify x^3y^4/3y^4

yan [13]

The given expression is:
(x^3 * y^4) / (3y^4)

We can notice that the term y^4 is a common term found in both the numerator and the denominator of the given expression, therefore, we can cancel this term from the both numerator and denominator (as if you divided both numerator and denominator by y^4).

Doing this, we will have the simplified form of the expression as follows:
(x^3) / (3)

4 0

3 years ago

Read 2 more answers

What is 1,099 rounded to the nearest ten

Elena-2011 [213]

1,099= 1,100

HOPE THIS HELPS!!!

5 0

3 years ago

On a coordinate plane, two parabolas open up. The solid-line parabola, labeled f of x, goes through (negative 2, 4), has a verte

statuscvo [17]

Answer:

Option 4.