The slope is -1 meaning down 1 over 1
y intercept is 10 (0, 10)
when x is 1 y is 11 (1, 9)
when x is -1 y is 9 ( -1, 11)
hope this helps
Answer:
- 20-year fixed-rate at 7.5%
- $106,219.32
Step-by-step explanation:
The shorter the term, the lower the amount of interest.
The lower the interest rate, the lower the amount of interest.
The loan that has both a shorter term and a lower interest rate will cost less in interest.
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The total of payments for the 30-year loan is 396,232.87.
The total of payments for the 20-year loan is 290,013.55.
The amount saved by taking the shorter loan is the difference of these amounts: $106,219.32.
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You can use an amortization formula, spreadsheet, or a financial calculator to compute the payments for each loan. The total repayment amount is the product of the monthly payment and the number of them, 360 for the 30-year loan; 240 for the 20-year loan.
Question 2 is B because 55 in fraction is 55/100 simplified by 11/20
He should buy the 24 pack
