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creativ13 [48]
2 years ago
12

What is n (6.5=-3+n) plz help

Mathematics
1 answer:
Tresset [83]2 years ago
3 0

Answer:

n=−0.545455

Step-by-step explanation:

n(6.5)=−3+n

Simplify both sides of the equation.

n(6.5)=−3+n

6.5n=−3+n

6.5n=n−3

Subtract n from both sides.

6.5n−n=n−3−n

5.5n=−3

Divide both sides by 5.5.

5.5n

5.5

=

−3

5.5

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You are applying for an 80/20 mortgage to buy a house costing $145,000. The first (80%) mortgage has an interest rate of 4.75%,
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Answer:

$291,016.80

A is correct.

Step-by-step explanation:

You are applying for an 80/20 mortgage to buy a house costing $145,000.

Loan Formula:

EMI=\dfrac{P\cdot r}{1-(1+r)^{-n}}

Case 1:

Loan amount, P = 80% of 145000 = $ 116,000

Rate of interest, r = 4.75% = 0.0475

Time of loan, n = 30 years = 360 months

Substitute the values into formula.

EMI=\dfrac{116000\cdot \frac{0.0475}{12}}{1-(1+\frac{0.0475}{12})^{-360}}

EMI=605.11

Total payment for case 1: 605.11 x 360 = $217,839.60

Case 2:

Loan amount, P = 20% of 145000 = $ 29,000

Rate of interest, r = 4.75% = 0.07525

Time of loan, n = 30 years = 360 months

Substitute the values into formula.

EMI=\dfrac{29000\cdot \frac{0.07525}{12}}{1-(1+\frac{0.07525}{12})^{-360}}

EMI=203.27

Total payment for case 1: 203.27 x 360 = $73,177.20

Total amount of the mortgage = $217,839.60 + $73,177.20

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Hence, The total amount of the mortgage is $291,016.80

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