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AysviL [449]
3 years ago
13

Please help asap!!! I’ll give you a thank you

Mathematics
1 answer:
stich3 [128]3 years ago
7 0

Answer:

V≈536.38

Step-by-step explanation:

V=a3

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Lenny and Lisa have obtained a 30-year, fixed rate mortgage for $675,250 with a 7.25% interest rate. They purchased 3 points and
Vikentia [17]

Answer:

119 months

Step-by-step explanation:

In this question, we are asked to calculate the amount of time it would take for a break-even point on a mortgage, if there is a factoring in the cost of points.

We proceed to answer the;

Mathematically,

The Break Even Point = Amount Paid for purchasing Discount Points divided by Monthly savings in the interest payments

We lost out the important values given in the question as follows:

Amount of Mortgage - $675,250

Tenure - 30 Years

The Rate of interest without points = 7.25%

The number of points = 3 points

The rate of interest with the 3 points = 6.875%

The amount to be paid for purchasing the discount point is now calculated below;

Since 1 discount point = 1% of mortgage value;

Therefore, 3 discount points = 3% of mortgage value

The amount paid is thus = 3% of $675,250 = $20,257.5

To calculate Monthly payment without points, we use the mathematical formula;

M = P[r(1+r)^n/((1+r)^n)-1)]

Where M

Is monthly payment, r is the interest rate, n is the number of months.

According to the question M = 675,250, r = 7.25% = 7.25/100 = 0.0725 , n= 30 * 12 months = 360 months

M = 675,250[0.0725(0.0725+1)^30/(1+0.0725)^360)-1) = $4606.40

To get the monthly payment with points, we simply use the formula again but this time interest rates will be 6.875% = 0.06875 I.e r = 0.06875

Inputting the terms in the formula will yield a value of $4435.91. This means monthly payment with discount will be $4435.91

Savings in monthly payments after purchasing the discount points = $4,606.40 - $4,435.91 = $170.48

Break Even = Purchase cost of Discount Points / Monthly savings

= $20,257.5 / $170.48

= 119 Months

Hence, the number of months it will take Lisa and Lenny to break-even point on their mortgage will be 119 months

6 0
3 years ago
Why do the hands on the clock form an angle?
Nostrana [21]

Answer:

hope it's help you ok have a good day

4 0
2 years ago
Read 2 more answers
2 times -1/4 times 3
NemiM [27]

Answer:

-1.5

Step-by-step explanation:

2 times -1/4 is -0.5. -0.5 times 3 is -1.5

5 0
3 years ago
A sound wave travels through iron at a rate of 5120\,\dfrac{\text{m}}{\text{s}}5120 s m ​ 5120, start fraction, start text, m, e
klio [65]

Answer:

18432 km/h

Step-by-step explanation:

It is given that a sound wave travels through iron at a rate of 5120 m/s.

We know that

1 km = 1000 m

1 hour = 60 minutes

1 minutes = 60 second

Using these conversions we get

1 m = 0.001 km

1 hour  = 3600 second

5120\text{ m/s }=5120\times 0.001\times 3600\text{ km/h}

5120\text{ m/s }=18432\text{ km/h}

Therefore, the sound wave travels through iron at a rate of 18432 km/h.

6 0
3 years ago
Which are the solutions of x2 = 10x + 1?
padilas [110]

Answer:

we have

Complete the square. Remember to balance the equation by adding the same constants to each side

Rewrite as perfect squares

Square Root both sides

substitute

therefore

the answer is

the solutions are

or

or

Click to let others know, how helpful is it

RStep-by-step explanation:

6 0
3 years ago
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