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cluponka [151]
2 years ago
11

You can afford a $1150 per month mortgage payment. You've found a 30 year loan at 8: interest compounded monthly. a) How big of

a loan can you afford?​
Mathematics
1 answer:
jarptica [38.1K]2 years ago
3 0

Answer:

PV= Max Loan amount = PMT*B(i,T) and PMT = 1200. Calculate B(i,T) = B(6%/12, 360)

=(12/.06)(1-(1/(1.005))360)  I will let you complete the calculation

Step-by-step explanation:

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Solve the following: 4x-1/2 = x+7
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Answer:

x = 2.5

Step-by-step explanation:

4x-1/2 = x+7

  4x-x = 7+0.5

     3x = 7.5

       x = 2.5

8 0
2 years ago
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the sum of three numbers is 81. the second number is twice the first, and the third number is six more than the second. find the
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have you tried using math-way just with no -

Step-by-step explanation:

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3 years ago
in your economics 101 class you have scores of 68,82,87 and 89 on the first four of five tests to earn a grade of a B or higher
Nadusha1986 [10]
(68 + 82 + 87 + 89 + x) / 5 > = 80
(326 + x) / 5 > = 80
326 + x > = 80 * 5
326 + x > = 400
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x > = 74.......u would have to make at least a 74 to earn a B
3 0
3 years ago
The number of customers that come to a certain clothing store each day follows a normal distribution. The mean number of custome
Lera25 [3.4K]

Answer:

c 2.5

Step-by-step explanation:

7 0
3 years ago
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A new American graduate is contemplating buying a Japanese, German, or an American car. No matter the type of car, he plans to b
Svetach [21]

Answer:

The best option is to buy Japanese Car.

Step-by-step explanation:

Fuel usage per year is 150000/ 8 = 18750 miles per year

Fuel cost (year 1 -8) = $3.0, $3.06, $3.12, $3.18, $3.25, $3.312, $3.38, $3.5

Japanese Car:

Fuel usage 18750 / 23 = 815 * $3 = $2446  

Fuel charges (year 1 -8) = $2445, $2494, $2623, $2758. $2900, $3050, $3207, $3372

Repair Cost (year 1 - 8) = $700, $721, $742, $764, $787, $811, $835, $860

Insurance cost (Year 1 - 8) = $700, $714, $728, $742, $757, $772, $788, $804

Present value of cost at 5% = 24674.07

Cost of car is $30,000

Total cost = $54674.07

Amercian Car:

Cost $35,000

Fuel usage 18750/20 = 937.5 * $3 per gallon = $2812.5.

Fuel charges (year 1 -8) = $2812, $2913, $2986, $3011. $3098, $3124, $3176, $3208

Repair Cost (year 1 - 8) = $800, $894, $921, $978, $1109, $1176, $1207, $1301

Insurance cost (Year 1 - 8) = $800, $827, $876, $898, $908, $932, $954, $934

Present value of cost at 5% = 25302.18

Cost of car is $35,000

Total cost = $60302.

German Car:

Cost = $45,000

Fuel usage 18750 / 21 = 892 * $3 = $2678  

Fuel charges (year 1 -8) = $2679, $2732, $2786, $2842. $2899, $2987, $3077, $3171

Repair Cost (year 1 - 8) = $1000, $1040, $1081, $1124, $1169, $1216, $1265, $1316

Insurance cost (Year 1 - 8) = $850, $867, $884, $902, $920, $938, $957, $976

Present value of cost at 5% = 27105.73

Cost of car is $45,000

Total cost = $72105.

6 0
3 years ago
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