Answer:
$711.23
Step-by-step explanation:
We assume the entire closing cost went to reducing the principal of the loan. Then the amount borrowed was $147,192.
<h3>Monthly payment</h3>The amortization formula tells you the monthly payment.
A = P(r/12)/(1 -(1 +r/12)^(-12t))
P is the principal, r is the annual rate, and t is the number of years.
The monthly payment is ...
A = $147,192(0.041/12)/(1 -(1 +0.041/12)^-360) ≈ $711.23
Jeff's monthly payment is $711.23.
Answer:
And finally we can convert this into money like this:
So they spent every day approximately in total $ 4815291.6 dollars
Step-by-step explanation:
For this case we can convert the average power into Kw like this:
Now on average we know that one person use on average this power over 6.3 hours per day so then we have the following consumption rate:
And now we know the total population so then the total consumption per day would be:
And finally we can convert this into money like this:
So they spent every day approximately in total $ 4815291.6 dollars