How does 0.008 compare to 0.08
1 answer:
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Answer:
B
Step-by-step explanation:
The amortization period in months is:
30 years * 12 = 360 months
The monthly interest rate would be 5.25%/12 = 0.004375
The payment for monthly mortgage formula would be:
Where
E is the monthly mortgage payment
C is the cost of mortgage, cost is $150,000
r is the monthly rate of interest, which is 0.004375
n is the period, in months, which is 360
Substituting, we get our answer:
So, the correct answer is B
7) Write the decimal number as a fraction
(over 1)
2.18 = 2.18 / 1
Multiplying by 1 to eliminate 3 decimal places
we multiply top and bottom by 3 10's
Numerator (N)
N = 2.18 × 10 × 10 × 10 = 2180
Denominator (D)
D = 1 × 10 × 10 × 10 = 1000
N / D = 2180 / 1000
Simplifying our fraction
= 2180/1000
= 109/50
= 2 9/50
8)
(over 1)
2.18 = 2.18 / 1
Multiplying by 1 to eliminate 3 decimal places
we multiply top and bottom by 3 10's
Numerator (N)
N = 2.18 × 10 × 10 × 10 = 2180
Denominator (D)
D = 1 × 10 × 10 × 10 = 1000
N / D = 2180 / 1000
Simplifying our fraction
= 2180/1000
= 109/50
= 2 9/50
8)