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3 years ago

How do you solve the following equation. Make sure to use evidence as to how you got your answer.

Mathematics

1 answer:

vampirchik [111]3 years ago

8 0

22 :)

Two negatives make a positive therefore the equation is just 15+7 which is 22.

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Rich and Melinda are comparing mortgages. Their mortgage is for $249,000. If they choose 15 years at 4%, their monthly payment w

jok3333 [9.3K]

Answer:

Term payback = 15 yr = $331527.6 20 yr = $394389.65 rounded up by 0.002. Shows 15 yr is $62862.05 less as result of return 5 yrs earlier.

Step-by-step explanation:

20 yr = $1643.29 at 105% = 82.1645 paid x 12 x 20 = 19719.48 interest + 1561.1257 to loan x 12 x 20 = 374670.168 total with Int at 5%= 394389.648

15 yr=$1841.82.= $1841.82 - 73.6728= 1768.1472 to loan p/m = 20 yr 318266.496 + interest of 73.6728 = 13261.104 total with interest at 4%=331527.6

6 0

3 years ago

Oh, boy! Look at that monthly payment from Question 2 above! Molly cannot afford the monthly payment using the 0% financing. She

viktelen [127]

The car payment plan that has an APR of 1.9% is, on the short term, pocket

friendly.

The correct responses are;

First part: The amount of loan Molly needs is $22,495

Second part: Molly's monthly payment will be approximately $286.2

Third part: The total interest Molly will pay using the plan is approximately $1,545.8

Fourth part: The amount the car costs Molly using the plan is approximately $26,540.8

Reasons:

The question parameters are;

Molly is comparing Auto Loans on Jeep website

Selling price of the Jeep, P = $25,495

The down payment Molly has = $2,500

The Cash Allowance = $500

Number of months of payment, n = 84 months

The Annual Percentage Rate, APR, r = 1.9%

First Part:

Loan needed = $25,495 - $2,500 - $500 = $22,495

The amount of loan Molly needs = $22,495

Second Part:

The monthly payment is given by the formula;

$\displaystyle M = \mathbf{\dfrac{P \cdot \left(\dfrac{r}{12} \right) \cdot \left(1+\dfrac{r}{12} \right)^n }{\left(1+\dfrac{r}{12} \right)^n - 1}}$

Therefore;

$\displaystyle M = \dfrac{22,495 \times \left(\dfrac{0.019}{12} \right) \times \left(1+\dfrac{0.019}{12} \right)^{84} }{\left(1+\dfrac{0.019}{12} \right)^{84} - 1} \approx \mathbf{286.2}$

Molly's monthly payment will be M ≈ $286.2

Third part:

The total interest, I = Sum of payment - Loan amount

∴ The total interest, I ≈ $286.2/month × 84 month - $22,495 ≈ $1,545.8

The total interest Molly will pay using the loan, I ≈ $1,545.8

Fourth part:

The cost of the car, C, using the 1.9% APR financing plan is the sum of the down payment plus sum of the loan repayment

Therefore;

C ≈ $2,500 + $286.2/month × 84 months = $26,540.8

The cost of the car using the 1.9% APR financing plan, C ≈ $26,540.8

The question parameters obtained from a similar question are;

Selling price of the car = $25,495

Financing = 1.9% APR for 84 months with a cash allowance of $500

Learn more about loan payment here:

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3 0

3 years ago

Find the median, range and mode of this numbers 3,6,9,7,4,6,7,0,7

Mekhanik [1.2K]

Answer:

Step-by-step explanation:

3 0

4 years ago

Read 2 more answers

PLEASE ANSWER I MARK AS BRAINLIST ❗️❕❗️PLEASE

liubo4ka [24]

Answer:

D and E

Hope this help for you

Red

3 0

4 years ago

given that p=(5,4),q=(7,3),r=(8,6) and s=(4,1) find the component form of the vector pq=3rs a.(-10,-16)b.(-6,4)c.(-2,-6)d.(14,14

Kitty [74]

Is it (-10, -16) i have that answer

5 0

3 years ago