There is a total loan cost formula:
number of payments = 12 * 30 = 360
where rate = MONTHLY loan rate = .05/12 =
<span>
<span>
0.004166666666666670
</span>
</span>total = rate * principal * number of payments / (1-[(1 +rate)^-n]
total = (<span>
<span>
0.004166666666666670
</span>
</span>
* 150,000 * 360) /
1 -[((1 +rate)^-n)]
total = (<span>
0.004166666666666670
</span>
* 150,000 * 360) /
1 - ((1.004166666666666670)^-360)
total = 225,000 / (1 -
<span>
<span>
<span>
0.223826595641353)
</span></span></span>total = 225,000 /
<span>
<span>
<span>
0.776173404358647
</span></span></span>
<span><span>total = 289,883.68
</span>
</span>
Answer:
(3 1/2, 7 1/4)
Step-by-step explanation:
A 1:3 ratio means we want 4 equal parts (1+3 = 4)
Find the distance of the segment and divide by 4
(x2+x1)/4, (y2+y1)/4
(8-2)/4 , (5-8)/4
6/4, -3/4
Since the first part is of ratio 1, we multiply by 1
Now add this to the starting point
(2 + 6/4, 8+ -3/4)
Getting a common denominator of 4
2*4/4 = 8/4
8 *4/4 = -3/4
(8/4 + 6/4, 32/4 -3/4)
(14/4, 29/4)
Now change back to a mixed number
(3 2/4 , 7 1/4)
(3 1/2, 7 1/4)
Total = Principal * (1 + rate)^years
Total = 1,100 * (1.08)^15
Total = 3,489.39