Answer:
x = 9
y = 9
Step-by-step explanation:
Given :
Let :
Kenyan French roast coffee = x
Cost per x = $8
Sumatran Coffee = y
Cost per y = $10
x + y = 18 - - - - (1)
8x + 10y = 9 * 18 ;
8x + 10y = 162 - - - - (2)
From (1):
x = 18 - y
Put x = 18 - y in (2)
8(18 - y) + 10y = 162
144 - 8y + 10y = 162
2y = 162 - 144
2y = 18
y = 9
x = 18 - y
x = 18 - 9
x = 9
Invested at 3% = x
invested at 4% = 2x
invested at 5% = x+500
0.03x + 0.04(2x) + 0.05(x+500) = 2025
0.03x + 0.08x +0.05x +25 = 2025
0.16x = 2000
x= 12,500
4% = 2x = 12,500 * 2 = $25,000
Answer:
If Dominic buys 2 points (2% of the loan value) he will get a better rate and hence less payment. The question is asking how long will it take him to save the initial investment of 2% of the loan value due to a smaller payment. The monthly payment at 5.45% is $1,146.43, the monthly payment for 5.2% is $1,118.66. This is a difference of $27.77 per month. The 2 points will cost him $3,752.00. The question is asking how long will it take Dominic to re-coup his $3,752.00 if he saves $27.77 per month. Just divide the 2 numbers and you get 135.10 months. If you divide that by 12 you get 11.26 years, which is roughly 11 years, 4 months.
Step-by-step explanation:
Here is what the question is asking. If Dominic buys 2 points (2% of the loan value) he will get a better rate and hence less payment. The question is asking how long will it take him to save the initial investment of 2% of the loan value due to a smaller payment. The monthly payment at 5.45% is $1,146.43, the monthly payment for 5.2% is $1,118.66. This is a difference of $27.77 per month. The 2 points will cost him $3,752.00. The question is asking how long will it take Dominic to re-coup his $3,752.00 if he saves $27.77 per month. Just divide the 2 numbers and you get 135.10 months. If you divide that by 12 you get 11.26 years, which is roughly 11 years, 4 months.
Answer:
a) The value of the Annual Payment is A=$17,258.80
b) Is the picture in the attachment file
c) As you can see it in the picture with each payment, balance comes down, due it is the interest base, Interest portion comes down too.
Step-by-step explanation:
Hi
a) First of all, we are going to list the Knowns:
,
% and
, Then we can use
. So this is the value of the Annual Payment