Answer:
- 20-year fixed-rate at 7.5%
- $106,219.32
Step-by-step explanation:
The shorter the term, the lower the amount of interest.
The lower the interest rate, the lower the amount of interest.
The loan that has both a shorter term and a lower interest rate will cost less in interest.
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The total of payments for the 30-year loan is 396,232.87.
The total of payments for the 20-year loan is 290,013.55.
The amount saved by taking the shorter loan is the difference of these amounts: $106,219.32.
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You can use an amortization formula, spreadsheet, or a financial calculator to compute the payments for each loan. The total repayment amount is the product of the monthly payment and the number of them, 360 for the 30-year loan; 240 for the 20-year loan.
Answer:
a. The number of people that receive the text in the fourth round are 10³ people
b. The total number of people that receive the text are 1.1111 × 10⁴ people
Step-by-step explanation:
a. The given information are;
The number of people the text is sent to in the first round = 1
In the second round, the number of people the text is sent to by people in the first round = 10
In the third round, the number people the text is sent to by the 10 people in the second round = 10 × 10 = 100 people = 10² people
In the fourth round, the number of people the text is sent to by the people in the third round = 100 × 10 = 1000 people = 10³ people
The number of people that receive the text in the fourth round = 10³ people
b. In the fifth round, the number of people, the people in the fourth round send the text to = 1000 × 10 = 10000 people = 10⁴ people
The total number of people that receive the text = 1 + 10 + 10² + 10³ + 10⁴ people = 11111 people = 1.1111 × 10⁴ people
Answer: 3/9
Explanation:
6 2/9 - 5 - 8/9
= 1 2/9 - 8/9
= 11/9 - 8/9
= 3/9
