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svp [43]
2 years ago
5

Jimmy paid off a mortgage by paying $775 per month for 12 years. What was the original amount of the mortgage if the interest ra

te charged was 4.40% compounded semi-annually?
Mathematics
1 answer:
valentinak56 [21]2 years ago
4 0

Answer:

The original amount of the mortgage was $66231.45.

Step-by-step explanation:

In order to find the original amount of the mortgage, you can use the following formula to calculate the present value:

PV=FV/(1+r/n)^nt

PV=present value

FV=future value= 775*12*12=111.600

r=rate of interest=0.0440

n= number of compounding periods= 2

t= time in years=12

Now, you can replace the values on the formula:

PV=111600/(1+(0.0440/2))^2*12

PV=111600/(1.022)^24

PV=111600/1.685

PV=66231.45

According to this, the answer is that the original amount of the mortgage was $66231.45.

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The algebraic expression which represents the square of the difference of s and 6 is (s - 6)²

Step-by-step explanation:

Let us represent some words by mathematics expressions

  • Square a number ⇒ x²
  • Square the sum of two numbers ⇒ (x + y)²
  • Sum of the squares of two numbers ⇒ x² + y²
  • Square of difference of two numbers (x - y)²
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∵ The expression is the square of the difference of s and 6

- That means find the difference between s and 6 at first,

   then square the difference

∵ The difference of s and 6 = s - 6

- Square this difference means but the difference in a bracket

   and then square the bracket

∴ The square of the difference = (s - 6)²

The algebraic expression which represents the square of the difference of s and 6 is (s - 6)²

Learn more:

You can learn more about the algebraic expressions in brainly.com/question/10771256

#LearnwithBrainly

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