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vagabundo [1.1K]
2 years ago
8

PLEASE HELP, 35 POINTS!!

Mathematics
2 answers:
VashaNatasha [74]2 years ago
8 0

Answer:

1) B. liability

2) A. 170.00

just took the quickcheck

Step-by-step explanation:

Aleks04 [339]2 years ago
3 0

Answer:

1.A

Step-by-step explanation:

Many types of insurance policies include liability insurance. Generally speaking, it helps pay to repair another person's property or for their medical bills if the policyholder is found responsible for causing the damage or injuries.

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Lenny and Lisa have obtained a 30-year, fixed rate mortgage for $675,250 with a 7.25% interest rate. They purchased 3 points and
Vikentia [17]

Answer:

119 months

Step-by-step explanation:

In this question, we are asked to calculate the amount of time it would take for a break-even point on a mortgage, if there is a factoring in the cost of points.

We proceed to answer the;

Mathematically,

The Break Even Point = Amount Paid for purchasing Discount Points divided by Monthly savings in the interest payments

We lost out the important values given in the question as follows:

Amount of Mortgage - $675,250

Tenure - 30 Years

The Rate of interest without points = 7.25%

The number of points = 3 points

The rate of interest with the 3 points = 6.875%

The amount to be paid for purchasing the discount point is now calculated below;

Since 1 discount point = 1% of mortgage value;

Therefore, 3 discount points = 3% of mortgage value

The amount paid is thus = 3% of $675,250 = $20,257.5

To calculate Monthly payment without points, we use the mathematical formula;

M = P[r(1+r)^n/((1+r)^n)-1)]

Where M

Is monthly payment, r is the interest rate, n is the number of months.

According to the question M = 675,250, r = 7.25% = 7.25/100 = 0.0725 , n= 30 * 12 months = 360 months

M = 675,250[0.0725(0.0725+1)^30/(1+0.0725)^360)-1) = $4606.40

To get the monthly payment with points, we simply use the formula again but this time interest rates will be 6.875% = 0.06875 I.e r = 0.06875

Inputting the terms in the formula will yield a value of $4435.91. This means monthly payment with discount will be $4435.91

Savings in monthly payments after purchasing the discount points = $4,606.40 - $4,435.91 = $170.48

Break Even = Purchase cost of Discount Points / Monthly savings

= $20,257.5 / $170.48

= 119 Months

Hence, the number of months it will take Lisa and Lenny to break-even point on their mortgage will be 119 months

6 0
3 years ago
Help ASAP being timed please.
Yanka [14]

Answer:

Its the third one

Step-by-step explanation:

Plot all of the points onto the graph, and draw a line through all of the points. It most closely resembles the third one

7 0
3 years ago
Write the equation of a line with slope 3 and y-intercept −3.
natta225 [31]
The equation would be y = 3x-3




4 0
3 years ago
Read 2 more answers
Help me with these asap
IgorLugansk [536]
Use the app that you can easily find answers on
3 0
2 years ago
Please helphelp
Rina8888 [55]
The answer would be A.
4 0
3 years ago
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