1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Goshia [24]
3 years ago
5

Susan and ronald dugan agreed upon the price of 256,000 for their new home. They plan to make 30 percent down payment and financ

e the rest at 7.5 persent for 20 years. What the total amount to be paid rounded to the nearest whole dollar?
Mathematics
1 answer:
Eduardwww [97]3 years ago
7 0

Answer:

The total amount to be paid for new home is $838,014.72  

Step-by-step explanation:

Given as :

The price of the new house = $256,000

The down payment amount = 30% of house price

So, The down payment price =  30% of $256,000

i.e The down payment price =  \dfrac{30}{100} × 256000

Or, The down payment price = $76,800

Now, rest amount is finance

So, The finance Amount = p = $256000 - $76800 = $179,200

The rate of interest applied = r = 7.5%

The time period of finance = t = 20 years

Let The Amount after 20 years of finance = $A

Let The total amount to be paid for new home = $B

<u>Now, From Compound Interest </u>

Amount = Principal × (1+\dfrac{\textrm rate}{100})^{\textrm time}

Or, A = p × (1+\dfrac{\textrm r}{100})^{\textrm t}

Or, A = $179,200 × (1+\dfrac{\textrm 7.5}{100})^{\textrm 20}

Or, A = $179,200 × (1.075)^{\textrm 20}

Or, A = $179,200 × 4.24785

∴  A = $761,214.72

So,The Amount after 20 years of finance = A = $761,214.72

<u>Now, Again</u>

The total amount to be paid for new home = Down payment amount + The Amount after 20 years of finance

Or, B = $76,800 + A

Or, B = $76,800 + $761,214.72

Or, B = $838,014.72

So, The total amount to be paid for new home = B = $838,014.72

Hence, The total amount to be paid for new home is $838,014.72  Answer

You might be interested in
St 2
Lubov Fominskaja [6]

Answer:

$5.5

Step-by-step explanation:

6 * N (notebook) + 3 * P (pen) = 27

n = 1.5 +P

6 * (1.5 + P) + 3 * P = 27

9 +6p +3p = 27

9p = 18

p (pen): $2

N (notebook): $3.5

combined cost of 1 pen and 1 notebook: $2 + $ 3.5 = $ 5.5

3 0
3 years ago
14-3(5t-12)=1-(20t+1)<br> How am I supposed to do this?
Nuetrik [128]
Expand by multiplying out:

14-15t + 36 = 1 -20t -1,
Because of the minus before the bracket, it changes the sign inside the bracket
-15t + 20t  = 1-1-14-36  Rearranging the ts on one side and the numbers on other
                                   side.
5t = -50  Divide both sides by 5.
t =  -50/5
t = -10.


5 0
3 years ago
= 28.16
frosja888 [35]

Answer:

20 m

Step-by-step explanation:

4(3+2) = 20

8 0
2 years ago
If you apply the changes below to the quadratic parent function, f(x) = x2, what is the equation of the
Vesnalui [34]

Answer:

C. g(x) + (-3x + 1)2

Step-by-step explanation:

did the test for it

7 0
2 years ago
List the sides in order from shortest to longest j=33 k=71 l=76
zepelin [54]

Answer:

j = 33

k = 71

l = 76

thank you..

8 0
2 years ago
Other questions:
  • I need help on this question plz
    8·1 answer
  • What is the maximum percentage of net spendable income that should be set aside for food
    12·2 answers
  • Find the number of terms in the expansion of [(x+1)^6+(x-1)^6]
    8·1 answer
  • How do we divide using long division?? (Explain plz)
    14·1 answer
  • Val walks 2 3/5 miles each day. Bill runs 10 miles once every 4 days.in 4 days,who covers the greater distance?
    14·1 answer
  • Help please explain and answer thanks
    7·1 answer
  • Find the area of the triangle. Round your answer to the nearest tenth.
    5·1 answer
  • PLEASE HELP!!!!!!!!!!!!!!!!ASAP!!!!!!!!!!NOW!!!!!!!!!!RIGHT AWAY!!!!!!!!
    11·1 answer
  • Kelly sells 62 shares of stock she owns for a total of $433. If the stock was in two different companies, one selling at $6.50 a
    13·1 answer
  • What is the slope of the blue line
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!