1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tomtit [17]
3 years ago
12

Tori took out A $350,000 loan in order to purchase a house. She has to pay an interest of 5.2% over 35 years. how much interest

does she owe? What is the total Amount that tori has to pay back At the end of the 35 years? Tori wants to build a budget To help organize your finances. To pay off her loan, how much does Tori need to pay monthly ? Justify how you got your answer using mathematical terms and reasoning?
Mathematics
1 answer:
Dmitrij [34]3 years ago
5 0

Hello from MrBillDoesMath!


Answer:

Interest paid = $ 1,713,568.73

Monthly p[payment = $4913.25


Discussion:

From the "compound interest formula:

A = final amount

P = Initial amount (Principal)

r = yearly interest rate

n = number of years of accumulation.


In our case,

A = 350000( 1 + .052)^35 =

      350000 (5.90)  =                  (approx)

      $2,063,568.73

Interest =  $2,063,568.73 - 350000 =  $ 1,713,568.73


There are 35 *12 = 420 months in 35 years. So the monthly payment would be   ($2,063,568.73 / 420)  = $4913.25



Thank you,

MrB

You might be interested in
What's 22 + 4? ghdjdhsbsjs
Debora [2.8K]

Answer:LOL 26

Step-by-step explanation: 22=4 IS LIKE EASY BUT IF YOU FORGOT THEN THATS FINE

4 0
3 years ago
The complement of set M is ______.
Firlakuza [10]

Answer:

M' is {-5, -4, -3, -2, -1, 0, 1, 3, 5, 6}

Step-by-step explanation:

6 0
3 years ago
2a +7= 15 answer please
Paul [167]

Answer:

a = 4

Step-by-step explanation:

2a + 7 = 15

     - 7  - 7

2a = 8

/2   /2

a = 4

Hope this helps!

7 0
3 years ago
Read 2 more answers
What are the 3 angle measures in the triangle shown below
7nadin3 [17]

9514 1404 393

Answer:

  B.  39°, 106°, 43°

Step-by-step explanation:

The sum of angle measures in a triangle is 180°. Then the sum of angle expressions will be 180.

  (3x +1) +(11x -4) +(5x -7) = 180

  19x -10 = 180 . . . . . collect terms

  19x = 190 . . . . . . . . add 10

  x = 10 . . . . . . . . . . . divide by 19

__

Then the three angle measures are ...

  • 3·10 +1 = 31
  • 11·10 -4 = 106
  • 5·10 -7 = 43

The appropriate choice is ...

  B.  31°, 106°, 43°

6 0
2 years ago
Use the following table to find the Rate of Change.
ELEN [110]

Answer:

x=1 and y= 6

Step-by-step explanation:

and for y its a positive cause their both negitives

3 0
3 years ago
Other questions:
  • Please help for number 22 I will give 20 points!
    5·1 answer
  • Is 2yx – 3y + 2x = 0 a linear function or not a linear function
    13·1 answer
  • Please help me out! I tried to do it but I got it wrong.
    5·1 answer
  • What is the area of the following shape?
    10·2 answers
  • a function f(x) is described by the ordered pair (x,y). if given the function is translated 2 units to the right and then reflec
    12·1 answer
  • Hi I need helppppppppppppppppppp
    7·2 answers
  • Find the slope of the line through the points (10,-6) and (-1,8)
    8·1 answer
  • Will give brainliest... Please I need this answer so badly
    8·1 answer
  • 1. Which situation describes the use of a debit card?
    13·1 answer
  • The difference of two numbers is 3. Their sum is 13. Find the numbers.
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!