Answer:
If Dominic buys 2 points (2% of the loan value) he will get a better rate and hence less payment. The question is asking how long will it take him to save the initial investment of 2% of the loan value due to a smaller payment. The monthly payment at 5.45% is $1,146.43, the monthly payment for 5.2% is $1,118.66. This is a difference of $27.77 per month. The 2 points will cost him $3,752.00. The question is asking how long will it take Dominic to re-coup his $3,752.00 if he saves $27.77 per month. Just divide the 2 numbers and you get 135.10 months. If you divide that by 12 you get 11.26 years, which is roughly 11 years, 4 months.
Step-by-step explanation:
Here is what the question is asking. If Dominic buys 2 points (2% of the loan value) he will get a better rate and hence less payment. The question is asking how long will it take him to save the initial investment of 2% of the loan value due to a smaller payment. The monthly payment at 5.45% is $1,146.43, the monthly payment for 5.2% is $1,118.66. This is a difference of $27.77 per month. The 2 points will cost him $3,752.00. The question is asking how long will it take Dominic to re-coup his $3,752.00 if he saves $27.77 per month. Just divide the 2 numbers and you get 135.10 months. If you divide that by 12 you get 11.26 years, which is roughly 11 years, 4 months.
Answer:
P4200
Step-by-step explanation:
SI=PRT/100
P=Principal which is P10500
R=Rate which is 20%
T=Time which is 2 years
So SI= 10500×20×2/100
=P4200
1.50c + 2.50a = 1100
c + a = 500
multiply the second equation by -1.50
1.50c + 2.50a = 1100
-1.50c - 1.50a = -7.50
Answer:
b = y-intercept
Step-by-step explanation:
You have two given data available here: the actual height of the Empire State Building measuring 1,450 feet, and the height of the block measuring 2 feet. To find how many blocks stacked together would make up 1,450 feet, just divide 1,450 by 2.
Number of blocks=1,450 feet * (1 block/2 feet)
Number of blocks = 725 blocks
Therefore, you would use a model requiring 725 blocks. The scale factor for the model is 1 block per two feet.