The correct option is D, A bigger down payment is money paid toward principal, interest-free, which also decreases the amount paid monthly.
<h3>What is interest?</h3>
The amount of money a lender or financial organization earns for lending out money is known as interest.
We know that monthly payments include the interest on the principal amount that is not been paid during the purchase of an item, if the down payment is more than the principal amount that the customer does not pay will decrease which will decrease the loan amount, thus, the interest on the principal amount will decrease as well.
Now, as the interest and the principal amount have both is been reduced, therefore, the monthly instalment(monthly payment) will be reduced as well.
Hence, the correct option is D, A bigger down payment is money paid toward principal, interest-free, which also decreases the amount paid monthly.
Learn more about Interest:
brainly.com/question/2793278
First, try 99^3 = 970299; therefore, it is not the least possible value.
The above number is a multiple of 99, so we can factor this out to find the least possible value. So we try to factor 99:
99 = 9 * 11
99 = 3^2 * 11^ 1
and 3^3 * 11^3 = 35937
The least possible value is 4^1 + 11^2 = 125. Its sum is 125 which is a perfect cube.
1. the pitcher is full because it can hold 1 liter, which is 1000ml and 500+400=900 so there would be 100ml before it would overflow.
2. Grant uses 3000ml of ginger, since 3g=3000ml.
3.<
4.>
5.=
6. 4L = 4000ml
9L = 9000ml
7. 6g = 6000mg
11g = 11000mg
8. 5kg = 5000g
17kg = 17000g
hope that helps!
Answer:75
Step-by-step explanation:2 1/2 is equal to 5 halves. If each half is equal to 15 then all you do is multiply 15 by 5
Answer:
Her new monthly payment is now $1,378.91¢
Step-by-step explanation:
For us to calculate the new monthly mortgage payment that Anna will start paying from now on, we need to input the formula for calculating monthly mortgage payments.
The formula is:-
![M = P [\frac{r(1+r)^{n} }{(1+r)^{n}-1}]](https://tex.z-dn.net/?f=M%20%3D%20P%20%5B%5Cfrac%7Br%281%2Br%29%5E%7Bn%7D%20%7D%7B%281%2Br%29%5E%7Bn%7D-1%7D%5D)
Where M is the monthly mortgage payment.
P is the principal
r is the monthly interest rate calculated by dividing your annual interest rate by 12
n is the number of payments(the number of months you will be paying the loan).
In this case, the new principal that Anna must pay back is $231,905.47¢. The annual interest rate has been reduced to 5.17% from 5.75% so the new monthly interest rate will be obtained by dividing the new annual interest rate by 12
= 5.17%/2
= 0.431%
This is the new monthly interest rate.
Since she has been paying her mortgage loan diligently for 5 complete years. It means she now has just 25 years to complete the payment. If 12 months make up one year, then there are - 12 × 25 = 300 more months to go.
300 is therefore "n" that is required for the calculation.
All the terms needed for the calculation of her new monthly mortgage is now complete.
P = $231,905.47¢
r = 0.431%
n = 300
![M = 231,905.47[\frac{0.00431(1+0.00431)^{300} }{(1+0.00431)^{300} -1}]](https://tex.z-dn.net/?f=M%20%3D%20231%2C905.47%5B%5Cfrac%7B0.00431%281%2B0.00431%29%5E%7B300%7D%20%7D%7B%281%2B0.00431%29%5E%7B300%7D%20-1%7D%5D)
![= 231,905.47[\frac{0.00431(3.634)}{2.634}]](https://tex.z-dn.net/?f=%3D%20231%2C905.47%5B%5Cfrac%7B0.00431%283.634%29%7D%7B2.634%7D%5D)
= 231,905.47 × 0.005946
M = $1,378.91¢
Therefore her new monthly mortgage payment will become $1,378.91¢
