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zmey [24]
3 years ago
8

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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Hello from MrBillDoesMath!

Answer:

9


Discussion:

Solution 1:

Distance between two points (x1, y1), (x2,y2) is given by the formula

sqrt(  (x1-x2)^2 + (y1-y2)^2).  In our case this becomes

sqrt( (0-0)^2 +  (12 -3)^2 ) =

sqrt( 9^2) =

9.


Solution 2:

Note points D and E both have x = 0 so segment DE is a vertical segment. The length is simply the difference of the y coordinates: 12- 3 = 9 as before.


Thank you,

MrB

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7 0
1 year ago
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lozanna [386]

Answer:

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Since this includes the square root of a negative number, h(0) is an imaginary number. That means that we can eliminate choices A and B.

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