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Julli [10]
3 years ago
10

Solve the equation for x, and enter your answer in the box below. -14x= -98

Mathematics
1 answer:
jeka57 [31]3 years ago
5 0

Answer:

x=7

hope this helps

have a good day :)

Step-by-step explanation:

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Answer=a
Reasoning
3times -2 is -6 and -6 plus 7 is one
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Find the range for the given data in 115, 534, 122, 599, 417, 289 A) 534 B) 167 C)115 D)484
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The answer is 484.Or D.
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Which of the following equations are equivalent to-2m-5m-8 #-(-7) + m?D-15m-4md:7m-8-rn-4□-3m-8-4-m□m-4.7m-8-8.7m- 4-m□-8.3m-4-m
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-2m - 5m - 8 = 3 + (-7) + m
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4 0
3 years ago
Lenny and Lisa have obtained a 30-year, fixed rate mortgage for $675,250 with a 7.25% interest rate. They purchased 3 points and
Vikentia [17]

Answer:

119 months

Step-by-step explanation:

In this question, we are asked to calculate the amount of time it would take for a break-even point on a mortgage, if there is a factoring in the cost of points.

We proceed to answer the;

Mathematically,

The Break Even Point = Amount Paid for purchasing Discount Points divided by Monthly savings in the interest payments

We lost out the important values given in the question as follows:

Amount of Mortgage - $675,250

Tenure - 30 Years

The Rate of interest without points = 7.25%

The number of points = 3 points

The rate of interest with the 3 points = 6.875%

The amount to be paid for purchasing the discount point is now calculated below;

Since 1 discount point = 1% of mortgage value;

Therefore, 3 discount points = 3% of mortgage value

The amount paid is thus = 3% of $675,250 = $20,257.5

To calculate Monthly payment without points, we use the mathematical formula;

M = P[r(1+r)^n/((1+r)^n)-1)]

Where M

Is monthly payment, r is the interest rate, n is the number of months.

According to the question M = 675,250, r = 7.25% = 7.25/100 = 0.0725 , n= 30 * 12 months = 360 months

M = 675,250[0.0725(0.0725+1)^30/(1+0.0725)^360)-1) = $4606.40

To get the monthly payment with points, we simply use the formula again but this time interest rates will be 6.875% = 0.06875 I.e r = 0.06875

Inputting the terms in the formula will yield a value of $4435.91. This means monthly payment with discount will be $4435.91

Savings in monthly payments after purchasing the discount points = $4,606.40 - $4,435.91 = $170.48

Break Even = Purchase cost of Discount Points / Monthly savings

= $20,257.5 / $170.48

= 119 Months

Hence, the number of months it will take Lisa and Lenny to break-even point on their mortgage will be 119 months

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