Nope, the value of the 5 is 5 tens which is 50 in the tens place.
The value of the 5 in the hundreds place is 5 hundreds which is 500.
Therefore the 5 in the tens place is actually ten times <em>less</em> than the 5 in the hundreds place.
Answer:
C
Step-by-step explanation:
1. Let x be the odd integer. Let y be the sum.
x + (x + 1) + (x + 2) = y
3x + 3 = y
Adding two consecutive integers to an odd integer will result in an even integer.
So, you can eliminate choices B and D since they are odd.
Lastly, plug in choices A and C for y and choose the answer that makes x an integer.
Choice C would give you the correct result.
3x + 3 = 44562
3x = 44559
x = 14853
The standard form would be 705,083.
The monthly payment if we put 5% down for a 30-year loan with a fixed rate of 6.25% is (B) $2,605.87 (approx).
<h3>
What is a loan?</h3>
- A loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, or other entities in finance.
- The recipient (i.e., the borrower) incurs a debt and is typically required to pay interest on that debt until it is repaid, in addition to repaying the principal amount borrowed.
- The document evidencing the debt will typically include information such as the principal amount borrowed, the interest rate charged by the lender, and the date of repayment.
- A loan is the temporary reallocation of the subject assets between the lender and the borrower.
To find the monthly payment if we put 5% down for a 30-year loan with a fixed rate of 6.25%:
- The purchase price is = $445500
- 5% is down payment = 0.05 × 445500 = 22275
- Loan amount is = 445500 - 22275 = 423225
- The EMI formula is = [p × r (1+r)ⁿ]/[(1+r)ⁿ-1]
- p = 423225
- r = 6.25/12/100=0.0052
- n = 30 × 12 = 360
- Putting the values in the formula we get:
- [423225 × 0.0052 × (1.0052)³⁶⁰]/[(1.0052)³⁶⁰-1]
- = $2603.17
Therefore, the monthly payment if we put 5% down for a 30-year loan with a fixed rate of 6.25% is (B) $2,605.87 (approx).
Know more about loans here:
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The correct question is given below:
If the purchase price for a house is $445,500, what is the monthly payment if you put 5% down for a 30-year loan with a fixed rate of 6.25%?
a. $2,740.19
b. $2,605.87
c. $1,314.84
d. $1,249.10
