Answer:
- 20-year fixed-rate at 7.5%
- $106,219.32
Step-by-step explanation:
The shorter the term, the lower the amount of interest.
The lower the interest rate, the lower the amount of interest.
The loan that has both a shorter term and a lower interest rate will cost less in interest.
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The total of payments for the 30-year loan is 396,232.87.
The total of payments for the 20-year loan is 290,013.55.
The amount saved by taking the shorter loan is the difference of these amounts: $106,219.32.
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You can use an amortization formula, spreadsheet, or a financial calculator to compute the payments for each loan. The total repayment amount is the product of the monthly payment and the number of them, 360 for the 30-year loan; 240 for the 20-year loan.
Answer:(c). No. Both variables must be quantativite
Step-by-step explanation:
Both variables must be quantitative because we can calculate Pearson correlation if they are both quantitative
Answer:
28 cm
Step-by-step explanation:
If the shape is a square, all the sides are equal. To find the area you multiply the length by the width. Since the area is 49 centimeters, find the square root of 49 to find the length of the length and the height of the square, which is 7. To find perimeter, you add the lengths of all the sides of the square. 7+7+7+7=28.
Answer:
4
Step-by-step explanation: