In a survey 9/10 people said they preferred Super Cola to Basic Cola. if the survey is accurate, how many people out of 1000 wou
2 answers:
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Answer:
a. They will need $90,000.00 for the down payment
b. The mortgage amount (principal) will be $360,000.00
c. The monthly principal payment will be $1,500,00
The monthly interest payment will be $634.40
d. The total interest they will pay: $152,256.00
Step-by-step explanation:
house price= $450,000
down payment = 20%
20-year mortgage
Interest rate= 3.75%
a. How much they will need for the down payment?
The down payment (DoP) is 20% of the house price
DoP= 20% de $450,000
DoP= 0.20*450,000
DoP= $90,000
b. What will be the mortagage amount (the principal)?
The mortgage amount (MoA) (principal) is the difference between the house price and the down payment.
MoA= $450,000 - $90,000
MoA= $360,000
c. How much will their monthly payment be for the principal and interest?
This equation represents the monthly payment (M):
where
P= the principal = $360,000
r= monthly interest rate = 3,75% divided by 12 = 0,31%
n= number of payments = 20 years multiplied by 12 months = 240
Let´s input these data into the equation:
Solving the equation:
M= $2,134.40
the principal component of this M would be
$360,000 divided by the 240 months
So, the principal component of M = $1,500.00
And the interest component of M is the difference
$2,134.40 - $1,500.00
So, the interest component of M = $634.40
d. How much total interest will they pay if they take the full 20 years to pay off the mortgage?
With every payment, they will be paying:
$634.40 per month, multiplied by 240 months
The total interest will be $152,256.00
Answer:
The number of individuals included in the summary is 146.
Step-by-step explanation:
The frequency distribution table provided is as follows:
Class Intervals Frequency
100 - 199 24
200 - 299 90
300 - 399 27
400 - 499 1
500 - 599 4
The lower class limit it the smallest value of each class interval.
Lower class limit = {100, 200, 300, 400, 500}
The upper class limit it the highest value of each class interval.
Upper class limit = {199, 299, 399, 499, 599}
The lower class boundaries are the lower class limits decreased by 0.5 and the upper class boundaries are the upper class limits increased by 0.5.
Class boundaries:
99.5 - 199.5
199.5 - 299.5
299.5 - 399.5
399.5 - 499.5
499.5 - 599.5
The class width is the difference between the class boundaries of each class.
Class width = 199.5 - 99.5 = 100
So, the class width is 100.
The midpoints of a class is the average value of the boundaries of a class.
The number of individuals included in the summary is the sum of all frequencies.
Thus, the number of individuals included in the summary is 146.