By applying the formulas of present and future values of annuity we can solve this problem. In this mortgage problem, first we have to find loan amount after the down payment. It is 699,000 - 699,000 * 0.2 = 559,200$. We have to set it as PV (Present Value) of annuity. Using the PV formula ![PV = A \frac{[1- \frac{1}{(1+r)^{N}}]}{r}](https://tex.z-dn.net/?f=%20PV%20%3D%20A%20%5Cfrac%7B%5B1-%20%5Cfrac%7B1%7D%7B%281%2Br%29%5E%7BN%7D%7D%5D%7D%7Br%7D%20)
, we first find A, which is an annual payment. Exact calculation with mortgage calculator gives us A = 33,866.56$. After finding it, plugging this number into FV (Future Value) formula ![FV = A\frac{[(1+r)^{N}-1]}{r}](https://tex.z-dn.net/?f=%20FV%20%3D%20A%5Cfrac%7B%5B%281%2Br%29%5E%7BN%7D-1%5D%7D%7Br%7D%20%20%20)
, we find the value of the future value and it is 1,185,329.66$. And the total financial charge is 1,185,329.66 - 559,200 = 626,129.66$
Answer:
That question is statistical because there can be multiple answers such as, biking, walking, carpooling, and taking a bus.
Step-by-step explanation:
Answer:
$1017.19
Step-by-step explanation:
First find the fraction of how much of Paulo's money is spent on his rent and car. Add 1/4 and 1/8, which is 3/8 because 1/4 = 2/8. Then multiply 3/8 by Paulo's monthly spending, which is $2712.50. Multiplying those numbers will get you $1017.1875. which you have to round up to $1017.19 because you can't spend three quarters of a cent.
Hey mate
It is C. 0 because there is no b in the <span>equation</span>
