Step-by-step explanation:
Sn=n/2(2a+(n-1)d)
910=n/2{2a+(n-1)d}
1820=n{2a+(n-1)d}
1820=20{2a+(20-1)d}
1820=20{2a+19d}
91=2a+19d
An=a+(n-1)d
95=a+(20-1)d
95=a+19d
91=2a+19d
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4=-a
a=-4
91=2a+19d
91=2(-4)+19d
91=-8+19d
91+8=19d
99=19d
d=99/19
A=-4
Let's write an inequality, such as follows: x < sqrt(50) < y. Square both sides of the equation. We get x^2 < 50 < y^2. Obviously, x is between 7 and 8. Also notice, that for integers a,b, (ab)^2/b^2, equals a^2. So let's try values, like 7.1. Using the previous fact, (7.1)^2, equals (71)^2/100. So, (7.1)^2, equals 50.41. Thus, our number is between 7 and 7.1. We find, with a bit of experimentation, that the square root of 50, is 7.07.
9514 1404 393
Answer:
a. $3,455.20
Step-by-step explanation:
The monthly payment is given by the amortization formula:
A = P(r/12)/(1 -(1 +r/12)^(-12t))
for loan amount P at annual rate r for t years.
For this mortgage, we use P = $530,000, r = 0.068, t = 30.
A = $530,000(0.068/12)/(1 -(1 +0.068/12)^(-360)) ≈ $3,455.20
The monthly payment is $3,455.20.
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<em>Additional comment</em>
In 7 years, the balloon payment will be $481,559.91.
