Total cost of the house = $215,000
Amount financed through mortgage = $189,375
Amount paid through other means (such as cash) = 215,000-189,375 = $25,625
Rate = 6.1% = 0.061
Number of years = 15 years
Monthly payment, M = P[i(1+i/12)^12*15]/[(1+i/12)^12*15 -1] = 189,375[0.061/12(1+0.061/12)^12*15]/[(1+0.061/12)^12*15 - 1] = $1,608.30
Total amount paid = $25,625 + (M*12*15) = $25,625 + $289,494.56 = $315,119.56
Seems the options given don't match the correct answer.
Answer:
2.6 and 2.7
Step-by-step explanation:
The actual square root of 7 is 2.64 and that is between 2.6 and 2.7.
Answer:
Step-by-step explanation:
Well just by looking at the information provided, you can tell that the equation would look like y = 4x -1. The y-intercept is -1 because the x value is 0. But if you want to see how to solve it algebraically, here’s an explanation... You need to substitute the y-intercept into the equation in order to solve for b, which would then complete the equation. Take the equation y=mx+b. Substitute in the slope and xy values, (-1) = 4(0) + b. Now the equation should look like this: -1 = b. So now that you have the value of b, the complete equation should be y=4x-1
Unsure of what you're asking.
If you have an algebraic expression in front of you and see a number there, you could label it as "known" or "a known quantity." Another word that comes to mind is "constant."
