The Roger's applied for a $70,000 mortgage for 30 years at 9%. Since they had a good credit history,
2 answers:
9514 1404 393
Answer:
- 9% payments: $563.24
- 7% payments: $494.75
- monthly savings: $68.49
- 9% total repaid: $202,764.90
- 7% total repaid: $148,423.63
- savings: $54,341.27
Step-by-step explanation:
It works nicely to let a calculator or spreadsheet figure the payment and loan values. The graphing calculator work is attached.
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Following PEMDAS is crucial to solving these. Please Excuse My Dear Aunt Sally
P - Parenthesis
E - Exponents
M - Multiplication
D - Division
A - Addition
S - Subtraction
Multiplication/Division and Addition/Subtraction are interchangeable.
Now then, number 1 has the following:
There are no parenthesis or exponents, but there is multiplication, so we will start with multiplying. There are two multiplication expressions in the problem.
Since you did that, your answer has been simplified to:
Now, all you have to do is combine your like terms. Since every term is alike, you can combine the whole expression.
So, your final answer would be:
Hopefully with this information, you can solve the rest. If you have any questions, let me know.