1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tangare [24]
3 years ago
5

You are applying for an 80/20 mortgage to buy a house costing $145,000. The first (80%) mortgage has an interest rate of 4.75%,

and the second (20%) mortgage has an interest rate of 7.525%. Both the first mortgage and the second mortgage are 30-year fixed-rate mortgages. What will the total amount of the mortgage be?

Mathematics
1 answer:
babymother [125]3 years ago
3 0

Answer:

$291,016.80

A is correct.

Step-by-step explanation:

You are applying for an 80/20 mortgage to buy a house costing $145,000.

Loan Formula:

EMI=\dfrac{P\cdot r}{1-(1+r)^{-n}}

Case 1:

Loan amount, P = 80% of 145000 = $ 116,000

Rate of interest, r = 4.75% = 0.0475

Time of loan, n = 30 years = 360 months

Substitute the values into formula.

EMI=\dfrac{116000\cdot \frac{0.0475}{12}}{1-(1+\frac{0.0475}{12})^{-360}}

EMI=605.11

Total payment for case 1: 605.11 x 360 = $217,839.60

Case 2:

Loan amount, P = 20% of 145000 = $ 29,000

Rate of interest, r = 4.75% = 0.07525

Time of loan, n = 30 years = 360 months

Substitute the values into formula.

EMI=\dfrac{29000\cdot \frac{0.07525}{12}}{1-(1+\frac{0.07525}{12})^{-360}}

EMI=203.27

Total payment for case 1: 203.27 x 360 = $73,177.20

Total amount of the mortgage = $217,839.60 + $73,177.20

                                                    = $291,016.80

Hence, The total amount of the mortgage is $291,016.80

You might be interested in
Please help with another math question
Vladimir79 [104]
Given system of equations:
2y=4x+20 Eq 1
4y=6x+24 Eq 2
Divide both sides of equation 1 by 2.
y=2x+10
Substitute value of y in equation 2.
4(2x+10)=6x+24
8x+40=6x+24
2x+40=24
2x=-16
x=-8
Put value of x in y=2x+10
y=2(-8) + 10
y=-16+10
y=-6

Answer : (-8,-6)
8 0
3 years ago
Your company has offices in 2 cities. The Denver office has 137 employees with an average salary of $67,013. The Anchorage offic
Charra [1.4K]

Alright, lets get started.

The Denver office has 137 employees with an average salary of $67,013.

So the total salay of all employees at Denver office will be = 137*67013

So the total salay of all employees at Denver office will be = $ 9180781

The Anchorage office has 25 employees with an average salary of $71,332.

So the total salary of employees at Anchorage office will be = 25 * 71332

So the total salary of employees at Anchorage office will be = $ 1783300

So, complete total salary of employees at both offices will be = 9180781+1783300

So, complete total salary of employees at both offices will be = $ 10964081

Total number of employees at both offices are = 137 + 25 = 162

So, the average salary of employee across the company = \frac{10964081}{162}

So, the average salary of employee across the company = 67679.5

Rounding off,

So, the average salary of employee across the company = $ 67680 : Answer

Hope it will help :)

7 0
3 years ago
Read 2 more answers
The histogram below shows the heights, rounded to the nearest inch, of the members of the Oak High School basketball team. A. 1
Elan Coil [88]

Answer:

Range of player's height = 9 inch

Step-by-step explanation:

Given:

Number of players    Height range

4                                     66-67

8                                     68 -69

14                                    70-71

9                                     72-73

1                                      74-75

Find:

Range of player's height

Computation:

Range = Maximum value - Minimum Value

Range of player's height = Maximum height of a player - height of a player

Range of player's height = 75 inch - 66 inch

Range of player's height = 9 inch

5 0
2 years ago
Which statement(s) is (are) correct?
Anna71 [15]

Answer:

<em>statements 3 and 4 are correct.</em>

Step-by-step explanation:

(1)

The probability of choosing cured pasta and bear= probability that the card is king.

Hence, The probability of choosing cured pasta and bear=\dfrac{4}{52}=\dfrac{1}{13}

Probability of choosing baked cucumber and lime mutton=probability that the card is 3.

as there are 4 cards that are '3'.

Hence Probability of choosing baked cucumber and lime mutton=\dfrac{4}{52}=\dfrac{1}{13}

as both the probabilities are equal.

Hence statement 1 is incorrect.

(2)

The probability of choosing gooseberry & passion fruit cheesecake= Probability taht the card is ace.

as there are 4 cards which are ace out of 52 cards.

Hence, The probability of choosing gooseberry & passion fruit cheesecake=\dfrac{4}{52}=\dfrac{1}{13}

probability of choosing poached fennel & lemon alligator=Probability that the card is a face card.

As there are 12 face cards out of 52 cards.

Hence, probability of choosing poached fennel & lemon alligator=\dfrac{12}{52}=\dfrac{3}{13}

Hence, the probability of choosing gooseberry and passion fruit cheesecake is smaller than the probability of choosing poached fennel & lemon alligator.

Hence statement 2 is false.

(3)

The probability of choosing a praline wafer=probability that the card is a diamond.

as there are 13 diamond cards out of 52 cards.

The probability of choosing a praline wafer=\dfrac{13}{52}=\dfrac{1}{4}

the probability of choosing poached fennel & lemon alligator=Probability that the card is a face card.

As there are 12 face cards out of 52 cards.

Hence, probability of choosing poached fennel & lemon alligator=\dfrac{12}{52}=\dfrac{3}{13}

Hence, The probability of choosing a praline wafer is greater than the probability of choosing poached fennel & lemon alligator.

Hence statement 3 is correct.

(4)

The probability of choosing pressure-cooked mushroom & garlic chicken =probability that the card is red.

As there are 26 red cards out of 52 cards.

Hence,  

The probability of choosing pressure-cooked mushroom & garlic chicken =\dfrac{26}{52}=\dfrac{1}{2}

probability of choosing an oven-baked apple & lavender calzone =probability that the card is black.

As there are 26 red cards out of 52 cards.

Hence,  probability of choosing an oven-baked apple & lavender calzone=\dfrac{26}{52}=\dfrac{1}{2}

Hence, The probability of choosing pressure-cooked mushroom & garlic chicken and the probability of choosing an oven-baked apple & lavender calzone are the same.

Hence statement 4 is true.

(5)

The probability of choosing pressure-cooked mushroom & garlic chicken =probability that the card is red.

As there are 26 red cards out of 52 cards.

Hence,  

The probability of choosing pressure-cooked mushroom & garlic chicken =\dfrac{26}{52}=\dfrac{1}{2}

the probability of choosing a praline wafer=probability that the card is a diamond.

as there are 13 diamond cards out of 52 cards.

The probability of choosing a praline wafer=\dfrac{13}{52}=\dfrac{1}{4}

Hence, the probability of choosing pressure-cooked mushroom & garlic chicken and the probability of choosing a praline wafer are not same.

Hence, statement 5 is not correct.


6 0
3 years ago
Someone please please please please help I need helpppp please
Ugo [173]

Answer:

Step-by-step explanation:

-3.75 + 2.8

= 0.95

3 0
2 years ago
Other questions:
  • High Points Precalc Homework
    10·2 answers
  • I need help on my makeup work numbers 4-6
    15·2 answers
  • Compute the total cost per year of the following pair of expenses. Then complete the​ sentence: On an annual​ basis, the first s
    6·1 answer
  • A computer store pays $6 for a computer mouse. The percent of markup is 75%. How much will the store sell the mouse to the publi
    15·2 answers
  • Which table represents a function?
    7·1 answer
  • The variables y and x have a proportional relationship, and y = 5 when x = 4.
    11·1 answer
  • Help ASAP please
    8·1 answer
  • Let's assume you are conducting an experiment to determine the effect of a new drug on the incidence of epileptic seizures. You
    8·1 answer
  • The image is basically the question. I am in the middle of this test plz help!
    9·1 answer
  • Calculate the rise and run to find the slope of each line
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!