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mash [69]
2 years ago
14

The boundary point is? The solutions are all values ? 3

Mathematics
1 answer:
Lostsunrise [7]2 years ago
5 0

Answer:

There’s no picture

Step-by-step explanation:

Next tim, attach it

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A couple can afford to make a monthly mortgage payment of $700. If the mortgage rate is 2% and the couple intends to secure a 30
Sever21 [200]
<h3>Answer:    $189,383.96</h3>

========================================================

Explanation:

  • r = 0.02 = decimal form of 2% annual interest
  • i = monthly interest rate
  • i = r/12 = 0.02/12 = (2/100)/12 = 1/600.
  • n = number of months = 12*30 = 360
  • P = monthly payment = 700

We'll plug those items into the formula below.

L = loan amount

L = P*( (1+i)^n - 1)/( i*(1+i)^n )

L = 700*( (1+1/600)^360 - 1 )/( 1/600*(1+1/600)^360 )

L = 189,383.961539639

L = 189,383.96

The couple can afford to borrow at most $189,383.96

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2 years ago
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