1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alexandra [31]
3 years ago
5

Beth is taking out a loan to purchase a new home. She is financing $50,000 for 25 years at an interest rate of 14.25%. What is h

er monthly payment?
A- $158.68

B - $220,140

C - $138.89

D - $611.50
There's also a table that goes with it that says the term for the rate of 14.25% is 12.23.
Mathematics
1 answer:
kozerog [31]3 years ago
3 0
The present value (PV) of a loan for n years at r% compounded t times a year where there is equal P periodic payments is given by:

PV=P\left( \frac{1-\left(1+ \frac{r}{t} \left)^{-nt}}{ \frac{r}{t} } \right)

Given that <span>Beth is taking out a loan of PV = $50,000 to purchase a new home for n = 25 years at an interest rate of r = 14.25%. Since she is making the payment monthly, t = 12.

Her monthly payment is given by:

50,000=P\left( \frac{1-\left(1+ \frac{0.1425}{12} \right)^{-25\times12}}{ \frac{0.1425}{12} } \right) \\  \\ =P\left( \frac{1-(1+0.011875)^{-300}}{ 0.011875 } \right)=P\left( \frac{1-(1.011875)^{-300}}{ 0.011875 } \right) \\  \\ =P\left( \frac{1-0.028969}{ 0.011875 } \right)=P\left( \frac{0.971031}{ 0.011875 } \right)=81.770994P \\  \\  \therefore P= \frac{50,000}{81.770994} =\$611.46

Therefore, her monthly payment is about $611.50
</span>
You might be interested in
Plz help fast thanks
mamaluj [8]

Answer:C

20-3=17

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
-6x-14y=16 and -2x+7y=17 solve by elimination show the work
professor190 [17]

Answer:

(- 5, 1 )

Step-by-step explanation:

- 6x - 14y = 16 → (1)

- 2x + 7y = 17 → (2)

Multiplying (2) by - 3 and adding to (1) will eliminate the x- term

6x - 21y = - 51 → (3)

Add (1) and (3) term by term to eliminate x

0 - 35y = - 35

- 35y = - 35 ( divide both sides by - 35 )

y = 1

Substitute y = 1 into either of the 2 equations and solve for x

Substituting into (1)

- 6x - 14(1) = 16

- 6x - 14 = 16 ( add 14 to both sides )

- 6x = 30 ( divide both sides by - 6 )

x = - 5

solution is (- 5, 1 )

6 0
2 years ago
( − 35 − 42 − 63 ) ∶ ( + 7 )
olga nikolaevna [1]

(-35-42-63)/7= (-140)/7=-20

7 0
2 years ago
Select the decimal that is equivalent to 2/3
Vinil7 [7]
.6666666667 that is a equivalent decimal
5 0
3 years ago
Read 2 more answers
Drag the item from the item bank to its corresponding match
Morgarella [4.7K]
You are converting the numbers to a word problem.

1. 5+x = the number five plus x

2.  5-x= the number 5 minus x

3. 5x= five times x

4. 5/x= five divided by x

5. three-fourths of x plus 2

6. two minus three-fourths of x

7. 3 times x plus 10

8. ten times x plus three
5 0
3 years ago
Other questions:
  • Solve for x: 9+9x&gt;18
    12·1 answer
  • How do I answer 249/591
    15·1 answer
  • Write the equation of the line in slope-intercept form with a slope of -5 and a y-intercept of -1.
    6·2 answers
  • The horizontal distance between two towers is 80 m. The angle of depression of the top of the first tower when seen from the top
    12·1 answer
  • List from least to greatest<br> 4.1, 0.25, 0.042, 2.21
    6·2 answers
  • Find f(x) and g(x) so that the function can be described as y = f(g(x)). y=8/x^2 +2
    12·1 answer
  • Help please..............
    14·1 answer
  • Which graph shows the line y = 4x-2?
    10·1 answer
  • PLS HELPPPPP<br> 2/3a+4&gt;-8<br> SHOW WORK
    8·1 answer
  • Mary is a lawyer who has an annual salary of $ 147,362. She has to pay
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!