Select the correct answer.
1 answer:
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The monthly payment on the mortgage is option C) $2537.44
<u>Step-by-step explanation</u>:
- Principal (P): $ 295,000
- Rate (r): 6.3% = 0.063
- Number of times compounded (n): 12months
15 years = 180
- Number of years = 15
The formula is A = P(1 + r/n)^nt
⇒ A = 295000(1+0.063/180)^(18015)
⇒ A = 295000(180.063/180)^2700
⇒ A = 295000 (1.00035)^2700
⇒ A = 758854.5
Interest = Amount - Principle
⇒ 758854.5 - 295000
⇒ Interest = 463854.5
∴ The monthly payment for 15 years = 463854.5 / (1512)
The monthly payment on the mortgage = 2576.9 (approximately option C)
Answer:
FH ~ 10.02
Step-by-step explanation:
1. Approach
One should first find the circumference of the given circle. Then one should find how large the fraction of the circumference one is supposed to find is. Finally, one should multiply the fraction of the circumference one is supposed to find by the total circumference.
2. Circumference of the circle
The formula for circumference is;
π
Substitute in the given values;
It is given that the radius is, hence
2 (7) π
14π
3. Find the fraction of the circumference one is supposed to find
It is given that the angles over the measure of the total degrees of angles in a circle are equal to the arc surrounding the angles of the circumference. Essentially;
Substitute in the given information and solve;
arc =
arc =
arc ~ 10.02