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3 years ago

You can afford a $1050 per month mortgage payment. You've found a 30 year loan at 7% interest.

Mathematics

1 answer:

anyanavicka [17]3 years ago

8 0

9514 1404 393

Answer:

loan: $157,823
repaid: $378,000
interest: $220,177

Step-by-step explanation:

For a loan value of 1, the monthly payment on a 30 year loan at 7% is ...

A = (0.07/12)/(1 -(1 +0.07/12)^(-12·30)) ≈ 0.00665302495

Then the amount repaid after 360 payments is ...

360A = 2.39508898 . . . times the principal amount

a) For a monthly payment of $1050, the principal can be ...

$1050/0.00665302495 ≈ $157,823

b) The amount repaid to the loan company is ...

$157,823×2.39508898 ≈ $378,000

c) The amount that is interest is ...

$378,000 -157,823 = $220,177

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3 years ago

Read 2 more answers

GIVING BRAINLIEST HELP NEEDED

xenn [34]

The volume of the prism given its dimensions is equal to 160 cubic units.

<h3>What is the volume of the prism?</h3>

The given prism is made up of two prisms. The volume of the prism is the volume of the two shapes.

One of the prisms have the dimensions: 4 x 4 x 5.

Volume = 80

The other prism has the dimensions: 8 x 2 x 5.

Volume = 80

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To learn more about rectangular prisms, please check: brainly.com/question/8890358

8 0

2 years ago

Please help!

mr Goodwill [35]

Answer:

1. $\sqrt{74}$ ft 2. $50\sqrt{2}$ yards 3. $5\sqrt{35}$ units.

Step-by-step explanation:

Pythagorean's Theorem $a^2 + b^2 = c^2$

A and b are both side lengths, c is the hypotenuse.

7^2 + 5^2 = 74

sqrt(74) is the answer for 1.

30^2 - 5^2 = 875

Simplify the radical. sqrt(875) --> 5sqrt(35). The answer for three.

There's a rule in geometry that says a diagonal of a square is the same length as taking a side length times the square root of two. There's your answer for two.

7 0

3 years ago