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I just answered this question. Here's my answer.
Home price is $245,000. There is no down payment mentioned.
I understand 20/4 as amortized over 20 years and balloon payment after 4 years.
Total cost would be = Balloon payment + Total monthly payment
4 years x 12 months = 48 months
Balloon payment = 216,789.79 x 1 mo = 216,789.79
Total monthly payment = 1,727.11 x 47 mos = 81,174.17
<span>Total cost = 216,789.79 + 81,174.17 = 297,963.96</span>
Answer:
B - P=11.8(1.02)^t
Step-by-step explanation:
An exponential function is defined as:
.
Recall, a is the starting value, b is the rate, and x is the input (often time).
We will substitute a=11.8 million, b=1.02, and x=t for years. Notice b=1.02 and not 0.02. Because the population is increasing, we multiply by 1+r to add the growth onto the current population.
We write:
where y is population in millions.
Answer:
y = -2x + 7
Step-by-step explanation:
P.S: I solved it twice to show you that it doesn't matter which point you choose, you will get the same result.
But it is important when you calculate the slope
If you have any questions about the way I solved it, don't hesitate to ask me in the comments below ÷)