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3 years ago

WHO'S UP AND WANTS TO HELP??

1 answer:

7 0

I believe this question is referring to purchasing a discount on a loan's interest rate by putting more towards closing costs. For mortgages, sometimes they will allow you to "buy" a smaller interest rate. For example:
Loan A has an interest rate of 4.5% and no closing costs. 
Loan B has an interest rate of 4.375%, but has $1000 in closing costs. 

Normally, Loan A would be the better choice if you plan on keeping the home short term, but Loan B would be more beneficial for keeping the loan long-term. I don't really care to spend the time that is necessary to come up with an actual scenario, but I hope that helps enough for you to understand the question.

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Grant's credit card has an apr of 11.28% and it just changed its compounding period from monthly to daily . What happen to the i

madreJ [45]

Answer:

C. It will increase by about 0.6%

Step-by-step explanation:

Since, the effective interest rate is,

$r=(1+\frac{i}{n} )^{n} -1$

Where, i is the stated interest rate,

n is the number of compounding periods,

Here, i = 11.28 % = 0.1128,

n = 365 ( 1 year = 365 days ),

Hence, the effective interest rate would be,

$r=(1+\frac{0.1128}{365})^{365} -1$

=0.119388521952

Now, the changes in effective interest rate = Effective interest rate - Stated interest rate

= 0.119388521952 - 0.1128

= 0.006588521952 ≈ 0.006 = 0.6 %

Hence, It will increased by about 0.6 %,

Option A is correct.

Hope this helps :)

7 0

2 years ago

HELP!!!!!!!!!!!!!!!!!!!!!

irinina [24]

Air homo
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6 0

2 years ago

PLEASE HELP AS SOON AS POSSIBLE THANK YOU!!

nataly862011 [7]

Answer:

We know that when x= -10, y= -17.

So, if we put those into direct variation "y=kx", we get

-17= k(-10)

k = -17 / -10

Now we put the value of "k" into the formula and we get A (y= 17/10x )

7 0

2 years ago

Solve the system of equations by substitution. 3/8x + 1/3y = 17/24

VashaNatasha [74]

Answer:

this question is not complete. need another equation

Step-by-step explanation:

give another equation then I can solve

$\frac{3}{8} x = \frac{17}{24} - \frac{1}{3} y \\ x = \frac{17}{9} - \frac{8}{9} y$

7 0

2 years ago

The equation of the circle with center (3, -2) and radius 7 is (X blank) + (y blank)

deff fn [24]

Answer:

Step-by-step explanation:

(x-3)^2 + (y+2)^2 = 7^2

5 0

2 years ago

Read 2 more answers