Ask question

Ask question

All categories

3 years ago

9

margery decided to purchase 4 points in order to lower her interest rate on her $150,000 mortgage. how much additional money doe

s she need to bring to closing?

2 answers:

makvit [3.9K]3 years ago

6 0

The answer is $6000.

Hope this helps :)

Rom4ik [11]3 years ago

3 0

The answer is $6000 in the personal finance class for apex.

You might be interested in

Seth has a bank account which pays 1.01% interest, compounded quarterly. Seth withdraws $4,567 from the account every quarter fo

dimulka [17.4K]

Answer:

C. $538,021.66

Step-by-step explanation:

It is given that the money Seth withdraws was compounded every quarter for 35 years. So, we get,

Amount withdrawn every quarter, P = $4567

Rate of interest, r = $\frac{0.0101}{4}$ = 0.002525

Time period, n = 35 × 4 = 140

Now, as we know the formula for annuity as,

$P=\frac{r \times PV}{1-(1+r)^{-n}}$

where P = installments, PV = present value, r = rate of interest and n = time period.

This gives, $PV=\frac{P \times [1-(1+r)^{-n}]}{r}$

i.e. $PV=\frac{4567 \times [1-(1+0.002525)^{-140}]}{0.002525}$

i.e. $PV=\frac{4567 \times [1-(1.002525)^{-140}]}{0.002525}$

i.e. $PV=\frac{4567 \times [1-0.7021]}{0.002525}$

i.e. $PV=\frac{4567 \times 0.2975}{0.002525}$

i.e. $PV=\frac{1358.68}{0.002525}$

i.e. $PV=538,091.08$

So, the closest answer to initial value of the account is $538,021.66

Hence, option C is correct.

6 0

3 years ago

Read 2 more answers

Is y^24 a perfect cube

dlinn [17]

Y^24 isn't a cube, the closest number is 27

8 0

2 years ago

63% of 300 is what number

PolarNik [594]

Answer:

189

Step-by-step explanation:

You take 63% make it a decimal by dividing it by 100 and then you multiply it with 300. 300*.63=189.

6 0

3 years ago

Read 2 more answers

Math Question (10 Points):

jok3333 [9.3K]

Answer:

A

Step-by-step explanation:

Becuase It expands the (2+4)8=2*8+8*4=6*8=48

3 0

2 years ago

Read 2 more answers

9x -1 = 80<br> A -10<br> B 9<br> C 10<br> D -9

Fittoniya [83]

Answer:

The answer is B!

Step-by-step explanation:

Add 1 to both sides, then divide 80 by 9!

5 0

2 years ago