Hi there!
We can begin by making each fraction have a common denominator:
If we make each have a common denominator of ab, we get:
Simplify:
Multiply both sides by ab:
Move b to the opposite side:
Factor out b:
Divide by (ac - 1):
Help!! (: please choose the best estimate
2 answers:
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Answer:
a) The coordinates are (0.431, -2.646) and (3.568,-7.354)
b) The tangent lines are
l₁ = (x-0.431)*2/3 - 2.646
l₂ = (x-3.568)2/3 - 7.354
Step-by-step explanation:
First, lets complete squares, by taking for each cordinate the square of a linear expression
0= x²−4x+y²+10y+13 = (x-2)²+ 4 + (y+5)²-25+13 = (x-2)²+(y+5)² - 8
Hence (x-2)² + (y+5)² = 8
Lets put y in function of x. We should obtain 2 functions f and g that represent the circle.
(y+5)² = 8 - (x-2)² = -x² + 4x + 4
Thus
Lets find the derivate of each function and the points in which they reach the value 2/3. In those points the tangent line will have a slope of 2/3.
We may just find the values of x which the derivate of f is either 2/3 or -2/3.
The quadratic has roots
one root is 3.568, which corresponds with g, and the other root is 0.431, corresponding to f.
Also g(3.568) = - 7.354 and f(0.431) = -2.646
This means that the coordinates are (0.431 , -2.646), (3.568 , -7.354) and the tangent lines are
l₁ = (x-0.431)*2/3 - 2.646
l₂ = (x-3.568)2/3 - 7.354
Answer:
The mortgage chosen is option A;
15-year mortgage term with a 3% interest rate because it has the lowest total amount paid over the loan term of $270,470
Step-by-step explanation:
The details of the home purchase are;
The price of the home = $275,000
The mode of purchase of the home = Mortgage
The percentage of the loan amount payed as down payment = 20%
The amount used as down payment for the loan = $55,000
The principal of the mortgage borrowed, P = The price of the house - The down payment
∴ P = $275,000 - 20/100 × $275,000 = $275,000 - $55,000 = $220,000
The principal of the mortgage, P = $220,000
The formula for the total amount paid which is the cost of the loan is given as follows;
The formula for monthly payment on a mortgage, 'M', is given as follows;
A. When the mortgage term, t = 15-years,
The interest rate, r = 3%
The number of months over which the loan is payed, n = 12·t
∴ n = 12 months/year × 15 years = 180 months
n = 180 months
The monthly payment, 'M', is given as follows;
M =
The total amount paid over the loan term = Cost of the mortgage
Therefore, we have;
220,000*0.05/12*((1 + 0.05/12)^360/( (1 + 0.05/12)^(360) - 1)
The minimum monthly payment for the loan, M ≈ $1,519.28
The total amount paid over loan term, A = n × M
∴ A ≈ 180 × $1,519.28 = $273,470
The total amount paid over loan term, A ≈ $270,470
B. When t = 20 year and r = 6%, we have;
n = 12 × 20 = 240
The total amount paid over loan term, A = 240 × $1,576.15 ≈ $378.276
The monthly payment, M = $1,576.15
C. When t = 30 year and r = 5%, we have;
n = 12 × 30 = 360
The total amount paid over loan term, A = 360 × $1,181.01 ≈ $425,163
The monthly payment, M ≈ $1,181.01
The mortgage to be chosen is the mortgage with the least total amount paid over the loan term so as to reduce the liability
Therefore;
The mortgage chosen is option A which is a 15-year mortgage term with a 3% interest rate;
The total amount paid over the loan term = $270,470