Answer:
B
Step-by-step explanation:
There are 12 inches in 1 feet, so
5 feet = 5 * 12 = 60 inch
6 feet = 6 * 12 = 72 inch
So, we can say most adult humans are between 60 to 72 inches tall
The model is 7 inches tall. So, from the answer choices, 7 * 10 = 70 [the number that is in between 60 to 72]. Thus we can take the model to be 1/10th of the original.
So the scale factor is 1/10, or option B
Part A: monthly payment
Initial loan after downpayment,
P = 320000-20000= 300,000
Interest rate per month,
i = 0.06/12= 0.005
Number of periods,
n = 30*12= 360
Monthly payment,
A = P*(i*(1+i)^n)/((1+i)^n-1)
= 300000(0.005(1.005)^360)/(1.005^360-1)
= 1798.65
Part B: Equities
Equity after y years
E(y) = what they have paid after deduction of interest
= Future value of monthly payments - cumulated interest of net loan
= A((1+i)^y-1)/i - P((1+i)^y-1)
= 1798.65(1.005^y-1)/.005 - 300000(1.005^y-1)
= (1798.65/.005-300000)(1.005^y-1)
Equity E
for y = 5 years = 60 months
E(60) = (1798.65/.005-300000)(1.005^60-1) = 18846.17
for y = 10 years = 120 months
E(120) = (1798.65/.005-300000)(1.005^120-1) = 45036.91
y = 20 years = 240 months
E(240) = (1798.65/.005-300000)(1.005^240-1) = 132016.53
Check: equity after 30 years
y = 30 years = 360 months
E(360) = (1798.65/.005-300000)(1.005^360-1) = 300000.00 .... correct.
The answer is $57.50.
Explanation:
To find the discounted price of an item, you multiply the original sell price of the item by a decimal version of the percentage. So in this case you would multiply .25 by 230 to get 57.5 or $57.50.
I hope I helped and good luck!
