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worty [1.4K]
3 years ago
10

In the literal equation below, what do C and F represent? F = C + 32

Mathematics
1 answer:
ladessa [460]3 years ago
7 0

Hi!

Let's take a look at the equation:

F = C + 32

What do we notice?

C and F are both variables.

Variables are unknown numbers represented by a letter.

In this case, C and F are the variables.

Hope this helps!

- Melanie

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11. Twyla and Tony have a 30/5 balloon mortgage for $389,900 with a rate of 4.85%. How much will they pay in interest over the l
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Answer:

Explanation:

Twyla and Tony with a balloon mortgage of 30/5 will make constant payments over the space of 5 years and then complete the bulk balloon payment for 25 years remaining.

Given mortgage loan value of $389900

Interest rate of 4.85%

We are asked to calculate the interest over the life of the loan.

We will calculate interest by calculating constant payments over the period of 5 years before balloon payment is due and adding them together then subtracting the mortgage loan given $389900

Formula for constant payments :

A= P×r×r(1+r)^n/(1+r)^n-1

Where A= constant/monthly payments

r= interest rate on the mortgage loan

n= number of payments = 30×12= 360

P= mortgage loan given

A= $389900×0.0485×0.0485(1+0.0485)^360/(1+0.0485)^360-1

=$389900×0.0485×1231340.79/25388468.94

=$389900×0.0485×0.04850

A= $917.142

Payment for five years(with interest)= $917.142×60= $55028.52

Calculate balloon payment:

FV= PV(1+r)^n - P((1+r)^n-1/r)

Where FV= future value of balloon payment

PV= initial loan given

r= interest rate on loan

n= number of payments

P= monthly payments

Substitute:

FV= $389900(1+0.0485/12)^60-917.142((1+0.0485/12)^60-1/0.0485/12)

=$389900×1.2738-917.142(0.2738/0.004041)

=$389900×1.2738-917.142×67.756

= 496654.62-62141.87

FV = $434512.75

Therefore total payment made with interest over the life of the loan= balloon payment+ constant payments for five years= $434512.75+$55028.52

=

6 0
3 years ago
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