Answer:
The Annual rate of interest for the mortgage is 1.8%
Step-by-step explanation:
Given as :
The mortgage principal = p = $167,000
The time period of mortgage = t = 20 years
The Amount paid towards mortgage in 20 years = A = $240,141
Let the Annual percentage rate on interest = r % compounded annually
Now, <u>From Compound Interest method</u>
Amount = Principal × 
Or, A = p × 
Or, $240,141 = $167,000 × 
or, 
=
Or , 1.437 =
Or, 
= 
or, 1.018 =
Or, 
= 1.018 - 1
Or, = 0.018
∴ r = 0.018 × 100
i.e r = 1.8
So, The rate of interest applied = r = 1.8 %
Hence, The Annual rate of interest for the mortgage is 1.8% Answer
Answer:
Step-by-step explanation:
Let first odd number = a, second odd number = a +2, third odd number = a + 4
a + a + 2 + a + 4 = 987
3a + 6 = 987
3a = 981
a = 327
First odd number = a = 327
Second odd number = a + 2 = 329
Third odd number = a + 4 = 331
Answer:
The scale used on his map is <u>150 miles : 2 inches</u>.
Step-by-step explanation:
Given:
Ted knows the actual distance between two cities is 150 miles. His map shows a distance of 2 inches between these cities.
Now, to find the scale Ted used on his map.
The actual distance Ted know between two cities = 150 miles.
The distance on map between these cities = 2 inches.
So, to get the scale used on his map:
Therefore, the scale used on his map is 150 miles : 2 inches.
I wrote it out on paper and uploaded the answer for you. Let me know if you have any questions.
The correct answer is $44.20.
If we add up all the tips, the total is $442. If we divide this by the number of days (10), then we find the mean.
442 / 10 = 44.2
