Answer:
monthly payment is about $1422 (rounded)
"taking this loan would be a smart decision because even after paying off the loan, he is still making a handsome profit (because his income per month is more than his loan payment)."
Step-by-step explanation:
The loan is an annuity so we use the formula for annuity to find the monthly payments he has to make.
![PV=C*\frac{1-(1+r)^{-n}}{r}](https://tex.z-dn.net/?f=PV%3DC%2A%5Cfrac%7B1-%281%2Br%29%5E%7B-n%7D%7D%7Br%7D)
Where
PV is present value of the loan (250,000)
C is the monthly payment (what we are trying to find)
n is the number of months (30 years * 12 = 360 months)
r is the rate of interest per month ( i = 5.5%/12 = 0.0046)
Putting these values, we solve for C:
![PV=C*\frac{1-(1+r)^{-n}}{r}\\250,000=C*\frac{1-(1+0.0046)^{-360}}{0.0046}\\250,000=C*\frac{1-1.0046^{-360}}{0.0046}\\250,000=C*175.7332\\C=1422](https://tex.z-dn.net/?f=PV%3DC%2A%5Cfrac%7B1-%281%2Br%29%5E%7B-n%7D%7D%7Br%7D%5C%5C250%2C000%3DC%2A%5Cfrac%7B1-%281%2B0.0046%29%5E%7B-360%7D%7D%7B0.0046%7D%5C%5C250%2C000%3DC%2A%5Cfrac%7B1-1.0046%5E%7B-360%7D%7D%7B0.0046%7D%5C%5C250%2C000%3DC%2A175.7332%5C%5CC%3D1422)
So monthly payment is about $1422 (rounded)
Since, each of the 8 apartments are going to be rented out at 500, total monthly income would be 8 * 500 = $4000
taking this loan would be a smart decision because even after paying off the loan, he is still making a handsome profit (because his income per month is more than his loan payment).
Answer:
The percent error rounded to the nearest tenth is 8.6%.
Step-by-step explanation:
The general equation for percent error is as follows: percent error = [(experimental value - actual value) / actual value] x 100. In this problem, her experimental value, or the expected score was 85%. However, her actual score was 93%. When we subtract the two values, we get a difference of 8 and when we divide this number by the actual value of 93, we get a quotient of .086. Multiplying this answer by 100 will give a final percentage of 8.6%.
The variable "y" equals the square root of two and the negative square root of two.
The problem may be solved using the quadratic formula.
Answer:
Length of side a = 4.30 miles
Incomplete question:
The area of the regular polygon is 48 mi2. What is the length of side a? miles
Step-by-step explanation:
The number of sides of sides of the polygon is not given, so we will assume the polygon is an hexagon as shown in the attached image;
Given;
Area = 48 mi^2
Area of an hexagon using side a can be written as;
A = (3/2)√3×a^2
Making a the subject of formula
a = √(2/3√3 ×A)
Substituting the values
a = √(2/3√3 ×48)
a = √(32/√3)
a = 4.30 miles
For this problem it should be The answer A