Answer:
x = 3 days y = $7
Step-by-step explanation:
By applying the formulas of present and future values of annuity we can solve this problem. In this mortgage problem, first we have to find loan amount after the down payment. It is 699,000 - 699,000 * 0.2 = 559,200$. We have to set it as PV (Present Value) of annuity. Using the PV formula ![PV = A \frac{[1- \frac{1}{(1+r)^{N}}]}{r}](https://tex.z-dn.net/?f=%20PV%20%3D%20A%20%5Cfrac%7B%5B1-%20%5Cfrac%7B1%7D%7B%281%2Br%29%5E%7BN%7D%7D%5D%7D%7Br%7D%20)
, we first find A, which is an annual payment. Exact calculation with mortgage calculator gives us A = 33,866.56$. After finding it, plugging this number into FV (Future Value) formula ![FV = A\frac{[(1+r)^{N}-1]}{r}](https://tex.z-dn.net/?f=%20FV%20%3D%20A%5Cfrac%7B%5B%281%2Br%29%5E%7BN%7D-1%5D%7D%7Br%7D%20%20%20)
, we find the value of the future value and it is 1,185,329.66$. And the total financial charge is 1,185,329.66 - 559,200 = 626,129.66$
Answer:
I believe it is A
Step-by-step explanation:
I dont quite remember the formula, but I belive that 30 would be correct because if im remembering correctly the formulas are "a + b = c" and "c - (a/b) = (a/b)
a/b = a or b, depending what they give you
I don't know what c you are talking about because there is no picture
