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Answer:
a. $3,455.20
Step-by-step explanation:
The monthly payment is given by the amortization formula:
A = P(r/12)/(1 -(1 +r/12)^(-12t))
for loan amount P at annual rate r for t years.
For this mortgage, we use P = $530,000, r = 0.068, t = 30.
A = $530,000(0.068/12)/(1 -(1 +0.068/12)^(-360)) ≈ $3,455.20
The monthly payment is $3,455.20.
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<em>Additional comment</em>
In 7 years, the balloon payment will be $481,559.91.
Answer:h=60×2
=120
Step-by-step explanation:
Answer:
= 5 / 12
Step-by-step explanation:
Probability is an outcome of chance. It is a measure of outcomes of events.
To solve the probability of picking a Tootsie Pop, we must comfortably know the contents of the bag.
Number of GRAPE Tootsie pops = 5
Number of CHOCOLATE Tootsie pops= 8
Total number of Tootsie pops = The sum of both Tootsie pops
Total number = 5 + 8
= 13.
Let's note that tge question said , Juan pulls a chocolate Tootsie Pop and eats. The implication is it has reduced the total number of Tootsie Pops left in the bag.
Therefore:
The probability that the next pop he pulls out will be grape will be
Probability (Grape) = 5 / (13 -1)
= 5 / 12
The probability that the next Pop he pulls out will be a grape = 5/12
