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maks197457 [2]
3 years ago
5

Erin Thompson agreed to purchase a house for $97,900. Hoover Mortgage is willing to lend her

Mathematics
1 answer:
Solnce55 [7]3 years ago
8 0
$2,697 is correct :)


$97,900-$8000=$89,900 because down payments are never included with the total mortgage loan.
8 percent for 30 years means there will be 8 percent interest that the bank charges on a 30 year loan that is on a fixed payment per month.
3 percent for closing costs or 0.03•$89,900=$2,697
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You can use the properties of logarithm to get to the solution.

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<h3>What is logarithm and some of its useful properties?</h3>

When you raise a number with an exponent, there comes a result.

Lets say you get

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log_3(2) + log_3(7) = log_3(2 \times 7) = log_3(14)\\\\0.631 + 1.771  = log_3(14)\\\\log_3(14) = 2.402

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The approximate value for given term is given by

log_3(14) \approx 2.402

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brainly.com/question/20835449

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