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disa [49]
3 years ago
13

[y = x + 4][3x -2y =-7] substitution

Mathematics
1 answer:
tia_tia [17]3 years ago
3 0

Answer:

x=15, y=19

Step-by-step explanation:

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Lenny and Lisa have obtained a 30-year, fixed rate mortgage for $675,250 with a 7.25% interest rate. They purchased 3 points and
Vikentia [17]

Answer:

119 months

Step-by-step explanation:

In this question, we are asked to calculate the amount of time it would take for a break-even point on a mortgage, if there is a factoring in the cost of points.

We proceed to answer the;

Mathematically,

The Break Even Point = Amount Paid for purchasing Discount Points divided by Monthly savings in the interest payments

We lost out the important values given in the question as follows:

Amount of Mortgage - $675,250

Tenure - 30 Years

The Rate of interest without points = 7.25%

The number of points = 3 points

The rate of interest with the 3 points = 6.875%

The amount to be paid for purchasing the discount point is now calculated below;

Since 1 discount point = 1% of mortgage value;

Therefore, 3 discount points = 3% of mortgage value

The amount paid is thus = 3% of $675,250 = $20,257.5

To calculate Monthly payment without points, we use the mathematical formula;

M = P[r(1+r)^n/((1+r)^n)-1)]

Where M

Is monthly payment, r is the interest rate, n is the number of months.

According to the question M = 675,250, r = 7.25% = 7.25/100 = 0.0725 , n= 30 * 12 months = 360 months

M = 675,250[0.0725(0.0725+1)^30/(1+0.0725)^360)-1) = $4606.40

To get the monthly payment with points, we simply use the formula again but this time interest rates will be 6.875% = 0.06875 I.e r = 0.06875

Inputting the terms in the formula will yield a value of $4435.91. This means monthly payment with discount will be $4435.91

Savings in monthly payments after purchasing the discount points = $4,606.40 - $4,435.91 = $170.48

Break Even = Purchase cost of Discount Points / Monthly savings

= $20,257.5 / $170.48

= 119 Months

Hence, the number of months it will take Lisa and Lenny to break-even point on their mortgage will be 119 months

6 0
3 years ago
How do you know that these mixtures would make the same shade of light blue paint
andre [41]

Answer:

you don't you just try it numnut

Step-by-step explanation:

6 0
3 years ago
Pls Help <br> Construction Quiz
pochemuha

Answer:

Angle Bisector

the arc was constructed were the two lines met making it to form an angle

7 0
2 years ago
30 is 120% of what number? show ur work
Yanka [14]

Answer:

30 is 120% of 25

Step-by-step explanation:

30 = 120% of y

\frac{120}{100} × y = 30

After multiplying both sides by 100 and dividing both sides by 120, we have

y = 30 × \frac{100}{120}

y = 25

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3 years ago
Plzzzzzzzz help right answer gets brainly
Lelechka [254]

Answer:

A

Step-by-step explanation:

7 0
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