If Clare takes out a mortgage for 22 years at an interest rate of 3% and her monthly repayments are $984, what is the principal loan amount?

Answers

Answer 1

Using simple interest, it is found that the principal loan amount was of $156,491.6.

The amount of money after t years in simple interest is modeled by:

[tex]A(t) = A(0)(1 + rt)[/tex]

In which:

A(0) is the initial amount, which is also called principal. r is the interest rate, as a decimal.

In this problem, she paid $984 monthly for 22 years, hence:

[tex]t = 22, A(t) = 984(22)(12) = 259776[/tex]

Interest rate of 3%, hence [tex]r = 0.03[/tex]

Then:

[tex]A(t) = A(0)(1 + rt)[/tex]

[tex]259776 = A(0)[1 + 0.03(22)][/tex]

[tex]A(0) = \frac{259776}{1 + 0.03(22)}[/tex]

[tex]A(0) = 156491.6[/tex]

The principal loan amount was of $156,491.6.

A similar problem is given at https://brainly.com/question/13176347


Related Questions

Suppose you are traveling the world and want to visit Africa this month. The probability that you go to Africa is 23%. When you get to Africa, you can relax at a bar, a pool, or in your hotel room. The probability you relax at a bar is 19%. Assuming traveling to Africa and relaxing at a bar are independent events, what is the probability that you travel to Africa and relax at a bar? Round to the nearest thousandths

Answers

Answer:

   0.044

Step-by-step explanation:

The joint probability of independent events is the product of their individual probabilities.

  P(bar & Africa) = P(bar)×P(Africa) = 0.19×0.23 ≈ 0.044

Answer:

Step-by-step explanation:

geomtry plz help 15 points

Answers

Answer:

m∠A=88°

Step-by-step explanation:

∠ABC=∠ACB=46° (base angles of isos triangle)

           ∠BAC=180°-46°-46° (angle sum of triangle)

                     =88°

According to the Isosceles Triangle Theorem, if two sides of a triangle are congruent, then the angles opposite of those sides are congruent.

Therefore, in the triangle from the picture, m
Now applying the Triangle Sum Theorem, all interior angles of a triangle must sum up to 180°.

Therefore, m
We can create an Algebraic equation to find the angle measure of angle A because we know the angle measures of angles B and C, and we know all three angles must sum up to 180°.

46+46+x=180

x = the measure of angle A

92+x=180

92-92+x=180-92

x=88

Therefore, the measure of angle A is 88°.

If the parent function is y = 4x, which is the function of the graph?

Answers

Answer: y=3(4)x

Explanation: I took the test

The function represented in the graph is y = 3 (4ˣ).

What is Function?

A function is a relation from a set A to a set B where the elements in set A only maps to one and only one image in set B. No elements in set A has more than one image in set B.

From the given graph, consider any point.

Consider the point (0, 3).

That is, when x = 0, the value of y is 3.

We have the parent function as,

y = 4ˣ

Then the function represented will be of the form,

y = m (4ˣ)

Substitute the point (0, 3).

3 = m (4⁰)

3 = m × 1   [since any number raised to 0 is 1]

m = 3

So the function is y = 3 (4ˣ).

Hence the function is y = 3 (4ˣ).

Learn more about Functions here :

https://brainly.com/question/17939507

#SPJ3

Your question is incomplete. The complete question is as given below in the image.

pleaseeeeeeeeeeeeeeeeeeeeeeeeeeee answer

Answers

Answer:

no its not a function

Step-by-step explanation:

i hope i help ;)

it is not a function

Given the two similar triangles below, which proportion is not true?
16.5 cm
12 cm
11 cm
با این
8 cm
10.5 cm
7 cm

Answers

Answer:

10.5

Step-by-step explanation:

Given the two similar triangles below, which proportion is not true?

i need help with this can ya help

8/12 = 7/10.5 11/7 = 16.5/127/8 = 10.5/1211/16.5 = 8/12

Sorry i know this isnt an answer.

no link no bot right please

Answers

9514 1404 393

Answer:

  10.49

Step-by-step explanation:

Since we know 110 = 10² +10, we can make a first approximation to the root as ...

  √10 ≈ 10 +10/21 . . . . . where 21 = 1 + 2×integer portion of root

This is a little outside the desired approximation accuracy, so we need to refine the estimate. There are a couple of simple ways to do this.

One of the best is to use the Babylonian method: average this value with the value obtained by dividing 110 by it.

  ((220/21) + (110/(220/21)))/2 = 110/21 +21/4 = 881/84 ≈ 10.49

An approximation of √110 accurate to hundredths is 10.49.

__

The other simple way to refine the root estimate is to carry the continued fraction approximation to one more level.

For n = s² +r, the first approximation is ...

  √n = s +r/(2s+1)

An iterated approximation is ...

  s + r/(s +(s +r/(2s+1)))

The adds 's' to the approximate root to make the new fraction denominator.

For this root, the refined approximation is ...

  √110 ≈ 10 + 10/(10 +(10 +10/21)) = 10 +10/(430/21) = 10 +21/43 ≈ 10.49

_____

Additional comment

Any square root can be represented as a repeating continued fraction.

  [tex]\displaystyle\sqrt{n}=\sqrt{s^2+r}\approx s+\cfrac{r}{2s+\cfrac{r}{2s+\dots}}[/tex]

If "f" represents the fractional part of the root, it can be refined by the iteration ...

  [tex]f'=\dfrac{r}{2s+f}[/tex]

__

The above continued fraction iteration adds 1+ good decimal places to the root with each iteration. The Babylonian method described above doubles the number of good decimal places with each iteration. It very quickly converges to a root limited only by the precision available in your calculator.

A die is weighted in such a way that each of 2, 4, and 6 is twice as likely to come up as each of 1, 3, and 5. Find the probability
distribution?

Answers

Considering that each of 2, 4, and 6 is twice as likely to come up as each of 1, 3, and 5, the probability distribution is given by:

[tex]P(X = 1) = 0.1111[/tex]

[tex]P(X = 2) = 0.2222[/tex]

[tex]P(X = 3) = 0.1111[/tex]

[tex]P(X = 4) = 0.2222[/tex]

[tex]P(X = 5) = 0.1111[/tex]

[tex]P(X = 6) = 0.2222[/tex]

The symbolic distribution is:

[tex]P(X = 1) = y[/tex]

[tex]P(X = 2) = x[/tex]

[tex]P(X = 3) = y[/tex]

[tex]P(X = 4) = x[/tex]

[tex]P(X = 5) = y[/tex]

[tex]P(X = 6) = x[/tex]

The sum of all probabilities is 1, hence:

[tex]3x + 3y = 1[/tex]

Simplifying by 3:

[tex]x + y = 0.3333[/tex]

[tex]y = 0.3333 - x[/tex]

2, 4, and 6 is twice as likely to come up as each of 1, 3, and 5, hence:

[tex]x = 2y[/tex]

[tex]x = 2(0.3333 - x)[/tex]

[tex]3x = 0.6667[/tex]

[tex]x = \frac{0.6667}{3}[/tex]

[tex]x = 0.2222[/tex]

Then:

[tex]y = 0.3333 - x = 0.3333 - 0.2222 = 0.1111[/tex]

Hence, the distribution is:

[tex]P(X = 1) = 0.1111[/tex]

[tex]P(X = 2) = 0.2222[/tex]

[tex]P(X = 3) = 0.1111[/tex]

[tex]P(X = 4) = 0.2222[/tex]

[tex]P(X = 5) = 0.1111[/tex]

[tex]P(X = 6) = 0.2222[/tex]

A similar problem is given at https://brainly.com/question/24855677

Ned fills 2/3 of a bucket in 15 of a minute. How much time will it take him to fill the bucket?

Answers

we know he filled 2/3 of the bucket in 15mins, how long for the "whole", namely 3/3 = whole, bearing in mind that 3/3 = 1, just the same as 7/7 = 1 or 1,000/1,000 = 1, so one whole is always 1 fraction wise.

[tex]\begin{array}{ccll} fraction&mins\\ \cline{1-2} \frac{2}{3}&15\\[1em] \underset{whole}{1}&x \end{array}\implies \cfrac{~~ \frac{2}{3}~~}{1}=\cfrac{15}{x}\implies \cfrac{2}{3}x=15\implies \cfrac{2x}{3}=15 \\\\\\ 2x=45\implies x=\cfrac{45}{2}\implies x=22\frac{1}{2}\qquad \textit{22 minutes and 30 seconds}[/tex]

please help me w my khan academy

Answers

Answer:

in armed forces is .15%

military dependant is 3%

and civilian is 96%

Step-by-step explanation:

hope this helps! ❄︎

5

Enter the correct answer in the box.

What is the standard form of function ?

f(x) = 4(x + 6)2 + 5

Substitute numerical values into the equation for a, b, and c.

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f(x)

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Darat

Naut

Answers

The standard form of the function is [tex]4x^2+48x + 149[/tex]

The standard form of an equation

The standard quadratic equation is expressed as:

[tex]y = ax^2 + bx + c[/tex]

Given the vertex form of an equation expressed as [tex]g(x) = 4(x + 6)^2 + 5[/tex]

Expand the expression:

[tex]f(x) = 4(x + 6)^2 + 5\\f(x) = 4(x^2+12x + 36) + 5\\f(x) = 4x^2+48x + 149\\[/tex]

Hence the standard form of the function is [tex]4x^2+48x + 149[/tex]

Learn more on standard form here: https://brainly.com/question/19169731

Describe the transformation of g(x)=4|x|

Answers

[tex]g(x) = 4 |x| = x = 0[/tex]

Write the equation of the function graphed below:

a. f(x) = 2x−−√3 –4
b. f(x) = 2x−−√3 + 4
c. f(x) =x−−√3 + 4
d. f(x) =x−−√3 – 4

Answers

Answer:

I have a couple questions before I answer, what do the 2 dashes represent and are the 4s also under the square root?

I need the answer ASAP please, 415 divided by 5

Answers

Answer:

83

Step-by-step explanation:

415/5

= 83

415 divided by 5 is 83.

you have a goal to sell 100 tickets to a school pizza party if you only completed 50 percent of your goal , did you sell more or fewer than 100 tickets ?

Answers

Answer:

you sold fewer than 100 tickets. you only sold 50 tickets out of your 100 ticket goal.

Maria wrote her 606 word
essay in 20 1/5 minutes. At
what rate is she typing?

Answers

Answer:

29.5

Step-by-step explanation:

Multiply 606 and 20.5 and get 29.5.

Please help me with this problem

Answers

Hello this will be easy for you.

Look at the picture, you have the angle UTR which is of 90° degrees. Thus the angle UTS is also 90° .

But the sum of the angles of a triangle is by property equal to 180° so the angle UVT must be equal to 180-90-64 = 26°.

Now we are getting near to solve that x+8 degrees angle.

Recall that UVT is 26° ok ? So 180-26 = x+8

Thus

x+8 = 154

x = 154 - 8

x = 146

Finally the angle UVS = 154 and the value of x = 146

You can see all the angles in the image attached below

Good luck you will be the best

A chicken is born weighing 1 ounce. It gains 2 ounces each week.
Write an equation that shows the relationship between the chicken's age in weeks, x, and its
weight in ounces,

y = ?

Answers

Answer:

y = 1 + 2x

or

y = 2x + 1

Step-by-step explanation:

I hope this helps!

Let "x" represent the chicken's age.

"Y "demonstrates the ounces.

There are 25 students in a class, 7 of them will be chosen to go on a field trip. How many ways can these students be chosen.

Answers

Answer:

Step-by-step explanation:

order is not important so

25 ways to fill the first spot

24 ways to fill the second

23 ways to fill the third

...

19  ways to fill the 7th

25•24•23•22•21•20•19 = 2,422,728,000

which also equals 25! / (25 - 7)!

.ggzgugimjhzieejwjdjnenwuene

Answers

Answer:

what da hel.l I didn't understood anything

2x.67 find the product draw a picture

Answers

Answer:

1.34

Step-by-step explanation:

2x67/100

= 134/100

= 1.34

Solve the equation 3x - 2(x + 1) = 2x - 7

Answers

Answer:

X=5

Step-by-step explanation:

Collect like terms then move the terms. Then collect liked terms. Calculate and Chang signs

Answer:

X = 5

Remember, x has a hidden one behind it, so it would be 1x

3x - 2(x + 1) = 2x - 7

Use the distributive property to multiply −2 by x+1.

3x−2x−2=2x−7

Combine 3x and −2x to get x

x−2=2x−7

Subtract 2x from both sides

x−2−2x=−7

Combine x and −2x to get −x

−x−2=−7

Add 2 to both sides

−x=−7+2

Add −7 and 2 to get −5

−x=−5

multiply both sides by -1

x=5

Mr. and Mrs. Bruce took a boat trip which left Cala for Friends’ Island at 11:45 in the morning. The trip lasted for 1 hour and 20 mins. When did they arrive at Friends’ Island?

Answers

they arrived at 1:05

If your heart rate is 155 beats per minute during strenuous exercise, what is the time per beat in units of seconds

Answers

Answer:

5 beats per second

Step-by-step explanation:

statistic operation depends

Write 5 • 5 • 5 • 5 • 5 • 5 • 5 using an exponent.

Answers

Answer:

5^6

Step-by-step explanation:

5 was multiplied repeatedly 6 times, so it's 5 to the power of 6

Answer:

5 to the power of 6 or 5^6

Step-by-step explanation:

$332.8 30percent off

Answers

Answer:

232.96$

Step-by-step explanation:

Are the ratios 6:1 and 19:3 equivalent?

Answers

Answer: no<3

Step-by-step explanation:

leave a thanks if helped plz

6 A local theater charges $26 for each adult ticket and
$17 for each student ticket. For one show, the theater
took in $988 from adults and $731 from students. How
many people attended the performance?

Answers

so what you would do is divide 988 by 26 and divide 731 by 17 and those two numbers you would add which gives you the amount of people that attended the performance

Answer:

81 people

Step-by-step explanation:

A store pays $79 for a desk and marks the price up by 10%. What is the new price?​

Answers

The new price would be $86.9

Answer: 86.90$

Step-by-step explanation:

10/79=7.90$. 7.90$ + 79.00$= 86.90$

Precalculus: Conics

At the Bellagio Resort in Las
Vegas, one of the fountains
attains a maximum height of 4m
at a horizontal distance of 0.5m
from its spout. If the path of
water is a parabola, find the
height of the water at a
horizontal distance of 0.75m
from the origin.

Answers

Answer:

yahoooooooooooooooo

Step-by-step explanation:

What is the perimeter of the shape to the right?​

Answers

The perimeter of that is 22
the perimeter is 22, good luck
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