On a 1616 scale drawing of a bike, one part is 3 inches long. How long will the actual bike part be?

Consider a home mortgage of $225,000 at a fixed APR of 4.5 % for 30 years. a. Calculate the monthly payment. b. Determine the

White raven [17]

<u>The formula for the monthly payment</u>.....

$M= \frac{P(1+r)^nr}{[(1+r)^n] -1}$ , where P = the principal amount, r = the monthly interest rate and n = the total number of months.

Here annual interest rate is given as 4.5%

So, the monthly interest rate $=\frac{4.5\%}{12}= 0.375\% = 0.00375$

Total number of months $= (30*12)months=360 months$

Also given that, the principal amount is $225000

a. So, the monthly payment will be.....

$M= \frac{P(1+r)^nr}{[(1+r)^n] -1}\\ \\ M= \frac{225000(1+0.00375)^3^6^0*0.00375}{(1+0.00375)^3^6^0 -1}\\ \\ M= \frac{225000(1.00375)^3^6^0*0.00375}{(1.00375)^3^6^0 -1} \\ \\ M \approx 1140$

Thus, the monthly payment will be approximately $1140

b. The <u>total amount paid</u> over the term of the loan will be: $\$ 1140*360 months = \$ 410400$

c. As the principal amount was $225000 , so the amount of interest $= (\$ 410400- \$ 225000)= \$ 185400$

So, the percentage of amount that is paid toward the principal $=\frac{225000}{410400}*100\% =54.82\%$

and the percentage of amount that is paid toward the interest $=\frac{185400}{410400}*100\%=45.18\%$

4 0

3 years ago

The table shows the annual profits (in thousands of dollars) of a county fair from 2013 to 2016. What must the 2017 profit be (i

Snezhnost [94]

Answer:

8 hundred dollars

Step-by-step explanation:

The break even value means zero profit or loss over the five years period. So if 2017 profit is x, then we get:

2.5 + 1.4 - 3.3 - 1.4 + x = 0
x - 0.8 = 0
x = 0.8 thousands of dollars
x= 800 dollars

7 0

3 years ago

Angelica is a sales representative for appliance. She needs to make at least $5,000 in weekly sales of a particular TV model to

Basile [38]

Answer:

20 TV need to be sold to qualify for the trip.

Step-by-step explanation:

Given: Sale price of each TV is $250

Sales target to qualify for trip is $5000.

As given, T represent TV sold.

Now, finding the number of TV sold to qualify for the trip.

Forming an inequality for the number of TV sold to qualify for trip.

We know, Total amount of TV sold= $Selling\ price\ of\ each\ TV \times Number\ of\ TV\ sold$

∴ To qualify for trip: $250T\geq 5000$

solving it by dividing both side by 250

∴ $T\geq \frac{5000}{250}$

$T\geq 20\ TV$

Hence, Angelica need to sell minimum 20 TV to qualify for the trip.

5 0

4 years ago

During the first quarter of the year, 351,875 people downloaded an an app for their smartphones. During the second quarter of th

solong [7]

249926 should be right because it saids fewer that must mean you subtrac

8 0

3 years ago

Read 2 more answers

Which choice belongs in space 5!!!

Novay_Z [31]

CPCTC belongs in space 5

4 0

2 years ago