A family is purchasing a house and needs to finance a $195,000 mortgage from the bank with an annual percentage rate (APR) of 5.3%. The family is financing it over 30 vears and making monthly payments. What would their monthly payment be?
Answers
Answer:
a) payment: $1082.84
b) interest: $194,822.40
Step-by-step explanation:
The monthly payment on the mortgage can be found using the given formula with the given values of principal (P=195000), interest rate (r=0.053), and time period (t=30). The value of n is 12, corresponding to the number of months in a year.
a)The monthly payment is ...
[tex]k=\left(1+\dfrac{r}{n}\right)^{nt}=\left(1+\dfrac{0.053}{12}\right)^{12\cdot30}\approx 4.88661119\\\\\text{monthly payment}=\dfrac{P\cdot\dfrac{r}{n}\cdot k}{k-1}=\dfrac{195000\cdot0.0044166667\cdot4.88661119}{4.88661119-1}\\\\\boxed{\text{monthly payment}=\$1082.84}[/tex]
__
b)The interest owed is the difference between the total of monthly payments and the principal of the loan:
interest owed = (360)(1082.84) -195000 = 194,822.40
The interest owed over 30 years is $194,822.40.
Related Questions
Ella has a piece of blue yarn that is 14 centimeters long.
She has a piece of red yarn that is 9 centimeters long.
How many centimeters of yarn
does she have altogether?
Answers
Answer:
she has 23 centimeters. because 9+14=23
A delivery truck is transporting boxes of two sizes: large and small. The combined weight of a large box and a small box is 60 pounds. The truck is transporting 70 large boxes and 60 small boxes. If the truck is carrying a total of 4000 pounds in boxes, how much does each type of box weigh?
Answers
Answer:
large: 40 lbssmall: 20 lbsStep-by-step explanation:
A system of equations can be written for the weights of the boxes based on the relationships given in the problem statement. One equation will be for the total weight of 1 large and 1 small box; the other will be for the total weight of 70 large and 60 small boxes.
Let L and S represent the weights of Large and Small boxes, respectively. The system of equations is ...
L + S = 60 . . . . . . combined weight is 60 lbs
70L +60S = 4000 . . . . weight of boxes in the truck
__
We can solve this by substituting for s in the second equation.
70L +60(60 -L) = 4000
10L = 400 . . . . . . . . . subtract 3600, simplify
L = 40
S = 60 -L = 20
A large box weighs 40 pounds; a small box weighs 20 pounds.
Solve for u.
3u + 4 = 7
Answers
u = 1
Step-by-step explanation:Hi there !
3u + 4 = 7
3u = 7 - 4
3u = 3
u = 3 : 3
u = 1
Good luck !
sfiso is not attending school on Saturday 1/3 of the day on sleep, 1/8 of his time on homework, 2/6 of the day playing and 5 hours doing other things. what fraction of the day does sfiso spend doing other things
Answers
Answer:
1/3+1/8+2/6=19/24-5=1/24
From the given parameters, the fraction of time spent doing other things is 5/24
How to determine the fraction of time?The given parameters are:
Sleep = 1/3
Homework = 1/8
Playing = 2/6
Doing other things = 5 hours
There are 24 hours in a day.
So, the fraction of time spent doing other things is the amount of time doing other things divided by the number of hours in a day
So, we have:
Time = 5/24
Hence, the fraction of time spent doing other things is 5/24
Read more about fractions at:
https://brainly.com/question/1622425
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What is the average
77,78,80
Answers
Answer:
78.3333333333
Step-by-step explanation:
77 + 78 + 80 = 235
235 ÷ 3 = 78.3333333333
Answer:
78.3333
Step-by-step explanation:
add all the numbers and divide by 3(as there are three numbers)
= 77+78+80 3= 235 3= 78.3333394 km 34 m + 13 km 68 m
Answers
Or- if you want that simplified, it can be 407102m
Answer:
407,102 meters
Step-by-step explanation:
Convert the kilometers to meters.
394 km x 1000 = 394000 meters
13 km x 1000 = 13000 meters
Add the results together.
407,000
Now add the remaining values to 407,000
407,000 + 34 = 407,034
407,034 + 68 = 407,102
The answer is 407,102 meters.
Hope I helped :)
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Amanda has a piece of ribbon that is 1/4 had long. She wants to share the ribbon with 2 friends so that they can each wear a ribbon for breast cancer awareness month. If each of the 3 friends gets the same amount, how much ribbon will each person get?
Answers
Explanation:
Draw a rectangle. Then draw three vertical lines inside to split the rectangle into 4 equal pieces. Shade one of the pieces to represent 1/4.
Now draw 2 horizontal lines to split that 1/4 piece into three equal smaller pieces. You should end up with a 3 by 4 grid of small squares. There are 3*4 = 12 small squares total.
Each person gets 1/12 of a unit of ribbon, when we started off with 1/4 of a unit of ribbon. Notice how 3*(1/12) = 3/12 = 1/4.
Refer to the diagram below.
Answer:
[tex]\displaystyle \frac{1}{12}[/tex]
Step-by-step explanation:
Multiply both denominatour and numeratour by 3 to determine this:
[tex]\displaystyle \frac{3}{12} = \frac{1}{4}[1\:(or\:\frac{3}{3})] \\ \\ \boxed{\frac{1}{4}} = \frac{3}{12}[/tex]
Therefore, each person will obtain ¹⁄₁₂ of the ribbon.
I am joyous to assist you at any time.
What is the value is equivalent to 5 + 4 × 2?
Answers
[tex]5 + 4 \times 2 \\ 5 + 8 \\ = 13[/tex]
We solved it using the rule:
BODMAS
B is for Brackets O is for OrderD is for DivisionM is for MultiplicationA is for AdditionS is for SubtractionAnswer:
[tex]\displaystyle 13[/tex]
Step-by-step explanation:
[tex]\displaystyle Grouping\:Symbols \hookrightarrow G \\ Exponents, Indices, or\:Radicals \hookrightarrow E \\ Multiplication\:and/or\:Division \hookrightarrow M \\ Subtraction\:and/or\:Addition \hookrightarrow S \\ \\ 5 + 4 \times 2 \hookrightarrow \\ \\ \boxed{13} = 5 + 8[/tex]
By using GEMS, the result is thirteen.
I am joyous to assist you at any time.
From New York, NY to Cancun, Mexico it is 3,396 miles. If the family goes on a road trip and drives the same number of miles each for 12 days, how many miles will they drive each day?
Answers
Breaking Even on Pizza
Suppose the student organization you are apart of has decided to hold a pizza fund-raiser during finals week. Sure we have Cost + Markup = Selling Price, but this sounds more like Pizza + Finals = Success. Your club plans to purchase 50 pizzas and resell them in the student center. For your initial post, I'm hoping you'll get creative: tell us about your student group (and yes, you can make up one that you think you' be apart of).
Next, choose a pizza store to purchase from. You can purchase from somewhere local, or you can choose a chain as well. Research their current promotions on pizzas and find the cost per pizza (you can decide what size of pizzas to purchase since specials will vary). It probably makes sense to explain why you made the choice you did. How much will it cost to purchase 50 pizzas?
Lastly, calculate what you would need to charge per slice to break even. In other words, if you only wanted to sell pizza and not make a profit, what would you charge for each slice?
For your first reply post, reply to your own post. Since this is a fund-raiser, what would you suggest charging for each slice and, based on this, what would the percent markup be? Also, what would the net profit be if you sold all 50 pizzas?
For your second reply post, reply to someone else's post and decide if their cost per slice is too high. Would you pay that much for a slice of pizza? Suppose they only sold 40 pizzas. Will they still make a profit? Will they break even? If you think they should adjust the cost per slice, explain why.
Answers
Answer:
pls shorten your question for better answers
Step-by-step explanation:
<3 follow
3a + -2 + -2a + -1 =
Simplify the expressions. Describe each step in words.
Answers
Answer:
2a-3
Step-by-step explanation:
3a+-2+-2a+-1
= 3a+-2a +-2+-1 (combine like terms)
=2a+-3 (subtract 3a+-2a and add -2+-1)
Find an equivalent fraction for the decimal number. Be sure that your answer is in lowest terms before typing in your answer. 0.6
Answers
Answer:
3/5
Step-by-step explanation:
The immediate translation to a fraction would be 6/10, but it simplifies to 3/5.
Macy lines up food to measure the length of a dish. Which food does she
need the most of to measure the dish?
Apple
Bread
Egg
Berry
Answers
Answer:
The berry
Step-by-step explanation:
The question asks what food needs the most to measure the dish. So we have to find the smallest amount so we can use the most items to measure a dish. The berry is the smallest, and will be our answer.
Anyone Know This ????!?
Answers
Answer:
D
Step-by-step explanation:
As
[tex]\frac{8}{8}[/tex]
because the rate is of
1/8 and
8/8=1
The sum of two consecutive integers is 187
Answers
If D=t+9^2 and C=t^2-t-8, find an expression that equals D-3C in standard form.
100 POINTS IF YOU CAN GET IT RIGHT
Answers
I think this should help, mb if its not correct.
Solve the equation.
4.5=0.5n4.5=0.5n4, point, 5, equals, 0, point, 5, n
n=n=n, equals
Answers
Answer:
n=9
Step-by-step explanation:
Rewrite the equation as 0.5n=4.5.
0.5n=4.5
Divide each term by 0.5 and simplify.
n=9
If n = 440 and ^p(p-hat) = 0.1, construct a 99% confidence interval. Give your answers to three decimals. Please list formulas in excel used if possible
___ < p < ___
Answers
====================================================
Explanation:
The spreadsheet is shown below.
In cell B6, the formula used is the NORMINV function to get the z critical value. The name is the result of putting the words "NORM" and "INV" together, which refers to the inverse normal.
It's used to find the value of k in P(-k < Z < k) = 0.99, which in this case is roughly k = 2.576 so the z critical value is roughly z = 2.576
What you type in specifically is [tex]=\text{NORMINV}( (1-0.99)/2, 0, 1)[/tex]
The (1-0.99)/2 portion ensures that we get the alpha/2 value which in this case is 0.005
The 0,1 at the end refers to the mean and standard deviation respectively of the standard normal Z distribution.
The output of that NORMINV function is then made positive and then you'd round to 3 decimal places.
So that's how we can get excel to display z = 2.576
----------
The margin of error E formula is
E = z*sqrt(phat*(1-phat)/n)
which doesn't need an excel function to get the job done, though of course excel can handle it just fine. You'd type in the formula as shown, but be sure to reference the correct cells.
Once E is calculated, we compute the following
L = phat - EU = phat + Ewhich are the lower (L) and upper (U) bounds of the confidence interval.
The results are L = 0.063 and U = 0.137
That confidence interval can be written in the form (0.063, 0.137) which is equivalent to saying 0.063 < p < 0.137
Angles A and B are complementary to each other. If mA = 130 + x and mB = 170 + x, what is the value of x?∠∠
Answers
Answer:
-105
Step-by-step explanation:
This means their measures add to 90 degrees, so:
(130+x)+(170+x)=90
300+2x=90
2x=-210
x=-105
The value of x in the expression for the measure of the complementary angle is -105.
What is the numerical value of x?Complementary angles are simply angles that sum up to 90 degrees.
Given the parameter:
Angles A and B are complementary.
Measure of angle A = 130 + x
Measure of angle B = 170 + x
Value of x =?
Since angles A and B are complementary, their sum should be equal to 90 degrees.
Hence:
Angles A + Angle B = 90
Plug in the expressions:
(130 + x) + (170 + x) = 90
Combine like terms:
x + x + 130 + 170
2x + 300 = 90
Subtract 300 from both sides:
2x + 300 - 300 = 90 - 300
2x = -210
x = -210/2
x = -105
Therefore, x has a value of -105.
Learn more about complementary angles here: https://brainly.com/question/4410854
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please answer this i will give brainliest asap please
Answers
Answer:
{x | x<5/4}
Step-by-step explanation:
Add 2 to both sides and simplify:
4x<5
Divide both sides by 4 and simplify:
x<5/4
Sue had more than 5 cookies last night. Inequality pls help
Answers
Answer:
x > 5
Hope it helps!
Answer: greater than 5
Step-by-step explanations
5x – 3y < 12
x - 4y > 16
Identify 3 solutions to the system of inequalities .. hurry up please
Answers
Answer:
The solutions to this system of inequalities are included in this inequality:
5/3x - 4 < y < 1/4x - 4
Here are an example of 3 solutions:
(-1,-5), (-2,-6), (-4,-8)
Please I need help on this I will mark brainliest!!!!!!!
Answers
Answer:
THE ANSWER IS 5
Step-by-step explanation:
BRAINLIEST PLEASE
Suppose a potter has 15 choices of glazes to apply on her pottery. She knows that if she applies glaze A OVER glaze B, it may not look the same as applying glaze B OVER glaze A. She wants to test the effect of combining these glazes by dipping a small vessel into 3 of these glazes. She will dip deeply into the first glaze (to see how it looks alone), then less deep into the next glaze (to see how it looks when applied OVER the first glaze) and then barely dip into the third glaze (to see how it looks when applied OVER the previous two glazes).
Required:
How many possible test vessels can be glazed?
Answers
The potter probably doesn't want to apply the same glaze multiple times, in which case she has 15 choices for the first layer, 14 for the second, and 13 for the third, giving
15 * 14 * 13 = 2730
possible test vessels.
On the other hand, it's possible that the potter is fine with re-using the first glaze in the third layer. In that case, whichever glaze is used first is not counted among the options for the second layer, but it comes back for the third layer, so that there would be
15 * 14 * 14 = 2940
test vessels.
Find X and Y please !
Answers
So first we need to find y, to do that we make an equation.
3y-12+63=180, first add 63 to -12.
3y+51=180, we move our constant to the right.
3y=180-51, subtract 51 from 180
3y=129, divide both sides by 3.
3y/3=129/3, and your answer is...
y=43
Now to find x, so we know that both the top and bottom lines are the same since they are cut into equal angles by the vertical line. To make this easier let’s do the math knowing that y=43, 3(43)-12=117. This means that the top right angle on the top line equals 177 degrees. And if you invert the angles that means the bottom left angle of the top line equals 177. Now we know what 5x+2 will equal however we still need to find x, before we make an equation we also need to be aware that the top left angle on the top line is also 63 degrees, by inverting that we also know the bottom right angle of the top line equals 63 degrees. So now we make our equation to find x.
5x+2+63=180, first we add 2 to 63.
5x+65=180, then we move our constant to the right.
5x=180-65, subtract 65 from 180.
5x=115, divide both sides by 5.
5x/5=115/5, and your answer is...
x=23
Hope this helped :)
HELP I NEED TO FINISH TO PASS Plsss help meeee
Analyzing Bivariate Data
In this activity, you will draw a scatter plot and the line of best fit to analyze a situation.
Jeremy is on the planning committee for the rock climbing club. He is putting together a trip where members
can go outdoor rock climbing. He is trying to determine how high the group should climb and how long the
trip should last. He calls multiple parks in the area that offer rock climbing and collects data on the height of
the rock formations and the average time it takes people to reach the top and come back down. The data he
found is shown.
Files
Comments
Time to Climb (min)
30
Height (ft)
85
45
120
115
298
87
194
160
434
60
241
135
351
117
339
55
180
145
400
95
249
Answers
Answer:
Step-by-step explanation:
The line of best fit in scatter diagram, the variable have a positive correlation.
Scatter Diagram is attached :
Express ✓-125 in standard form.
Answers
How many theorems are there for circles? And what are they?
Answers
Brainliest?
i hope this makes sense !!
8. Isabella bought 16 roses. She divided her roses into groups. Then
she gave 4 groups away.
What is the fraction of roses that she has given away in the simplest
form?
Answers
Answer:
The fraction of roses that she has given away in the simplest form is
4/16=1/4
She divided them into groups
She gave 4 groups away
So,
4/16
Now,simplest form of 4/16 = 1/4
Fraction of roses we gave in simplest form is 1/4.
Hope this helps
NEED HELP.......... .......
Answers
Answer:
WDYM
Step-by-step explanation: