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
Inessa05 [86]
3 years ago
13

An investor obtains a balloon mortgage with the terms shown below.

Mathematics
1 answer:
Flauer [41]3 years ago
6 0

9514 1404 393

Answer:

  a.  $3,455.20

Step-by-step explanation:

The monthly payment is given by the amortization formula:

  A = P(r/12)/(1 -(1 +r/12)^(-12t))

for loan amount P at annual rate r for t years.

For this mortgage, we use P = $530,000, r = 0.068, t = 30.

  A = $530,000(0.068/12)/(1 -(1 +0.068/12)^(-360)) ≈ $3,455.20

The monthly payment is $3,455.20.

_____

<em>Additional comment</em>

In 7 years, the balloon payment will be $481,559.91.

You might be interested in
One of the students was removed from the survey and replaced with a different student’s data.
Nostrana [21]

Answer:

immma send you the link friend me on here Step-by-step explanation:

3 0
3 years ago
...im failing please
Taya2010 [7]

Answer:

top row on 9 page; 9) 53/5 10) 26/4 11) 37/4

bottom row on 9 page; 9) 8 and 1/7 10) 6 and 3/4 11) 1 and 1/3

top row on 3 page; 3) 2 and 2/7 4) 5 and 3/4 5) 8 and 1/10

bottom row on 3 page; 3) 4/3 4) 3/2 5) 12/5

top row on 12 page; 12) 21/10 13) 62/6 14) 57/6

bottom row on 12 page; 12) 1 and 9/10 13) 10 and 1/2 14) 3 and 3/8

Step-by-step explanation:

You never specified if these had to be simplified or turned into a fraction, so I just simplified them. That's about it.

I hope this helps :)

7 0
3 years ago
Wo runners are saving money to attend a marathon. The first runner has $112 in savings, received a $45 gift from a friend, and w
SpyIntel [72]

Answer:

I believe the last answer is correct

Step-by-step explanation:

Both runners are gaining money

8 0
2 years ago
In circle P, chord AB is 3 inches from the center and chord CD is 5 inches from the center. Chord CD is ____ than chord AB.
Leno4ka [110]
The chord that goes through the center of a circle, the diameter, is the longest chord in a circle.  Any other chord will be shorter than this.  The farther a chord is away from the circle, the shorter it will be.  This means that chord CD is shorter than chord AB.
5 0
3 years ago
Read 2 more answers
What is the answer to <br> a/-2 = 8
WARRIOR [948]

Answer:

-16

Step-by-step explanation:

a/-2=8

you multiply -2 on both side a/-2(-2)=8(-2)

-2 cancels out one the one side

your final answer is a= -16

3 0
3 years ago
Other questions:
  • 2 cubed minus 2 squared
    10·1 answer
  • Which of the following is used to determine the significance of predictions made by a best fitting linear equation?A. correlatio
    5·1 answer
  • A group of friends share cost of their party. If each pays $42, there is surplus of $19.
    15·2 answers
  • I need to know what X is?
    6·1 answer
  • Help please confused
    13·1 answer
  • Plz help ASAP
    11·1 answer
  • Berto has $12 to put gas in his car. If gas costs $3.75 per gallon, which ordered pair relating number of gallons of
    12·2 answers
  • Question 1<br> A<br> b<br> c<br> d <br> PLEASE HELP ASAP!!
    5·1 answer
  • If 7x+2y =3 and x-3y=30, what is the value of y?<br><br><br>​
    13·1 answer
  • Does someone knows how to do this one?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!