A couple buys a $290000 home, making a down payment of 15%. The couple finances the purchase with a 15
year mortgage at an annual rate of 3.4%. Find the monthly payment.
per month.
If the couple decides to increase their monthly payment to $1950, find the number of payments.
payments (give 2 decimal places)
which we would round up to
total payments.

Answers

Answer 1

The monthly payment for the first condition is $1750.11 and the total number of payments is 156.

What is the monthly payment?

Monthly payment is defined as the amount paid every month depending on the terms of the mortgage loan. This includes the principal, which is the actual balance on the loan, and the interest on the loan.

The formula for monthly payments on the mortgage is given:

                                [tex]MP = \frac{P(\frac{r}{n}) }{1- (1+\frac{r}{n})^{-nt} }[/tex]

where, MP = monthly payment

            P = principal amount

             r = rate of interest

             n = number of payments per year

              t = number of years

Given, a couple buys a house for $290000 and makes a down payment of 15%

Down payment = 0.15*290000 = $ 43500

First condition,

Present value of loan (P) = $290000 - $43500 = $246500

rate of interest (r) = 3.4% = 0.034

number of payments per year (n) = 12

number of years (t) = 15 years

Then, the monthly payment is calculated by:

             [tex]MP = \frac{246500(\frac{0.034}{12}) }{1- (1+\frac{0.034}{12})^{-12*15} } = 1750.11[/tex]

Therefore, monthly payment = $1750.11

Second condition,

monthly payment (MP) = $1950

Present value of loan (P) = $290000 - $43500 = $246500

rate of interest (r) = 3.4% = 0.034

number of payments per year (n) = 12

time in years (t) = x years

Then,

or,  [tex]1950 = \frac{246500(\frac{0.034}{12}) }{1- (1+\frac{0.034}{12})^{-12*x} }[/tex]

or, [tex]x = 13.06 = 13[/tex]

So, the total number of payments =  13*12 = 156

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Related Questions

What is an equation of the line that passes through the points (-4, -3) and (8, 6)?

Answers

Answer:  [tex]y=\frac{3}{4} x[/tex]

Step-by-step explanation:

        We will create a point-slope equation to solve.

        First, we need to find the slope.

[tex]\displaystyle \frac{y_2-y_1}{x_2-x_1}= \frac{6--3}{8--4} =\frac{9}{12} =\frac{3}{4}[/tex]

        Next, we will create our point-slope equation.

[tex]\displaystyle y-y_1=m(x-x_1)[/tex]

[tex]\displaystyle y--3=\frac{3}{4} (x--4)[/tex]

 [tex]\displaystyle y+3=\frac{3}{4} (x+4)[/tex]

 [tex]\displaystyle y=\frac{3}{4} x+3 -3[/tex]

 [tex]\displaystyle y=\frac{3}{4} x[/tex]

Darryl’s portfolio includes 66 shares of Essentia Inc., 95 shares of SFT Legal, and 180 shares of Grath Oil. If Essentia Inc. pays a yearly dividend of $1.79 per share, SFT Legal pays $2.62 per share, and Grath Oil pays $1.18 per share, how much does Darryl receive in dividends every year?

Answers

Darryl receive $579.44  in dividends every year .

In the question ,
it is given that

Darryl's portfolio

number of shares of Essentia Inc. = 66

dividend received from each share in a year = $1.79 per share

So , amount of dividend received from Essentia Inc. = 66 × 1.79

= $118.14

number of shares of SFT Legal = 95

dividend received from each share in a year = $2.62 per share

So , amount of dividend received from SFT Legal = 95 × 2.62

= $248.9

number of shares of Grath Oil = 180

dividend received from each share in a year = $1.18 per share

So , amount of dividend received from Essentia Inc. = 180 × 1.18

= $212.4

So , total dividend Darryl receives = $118.14 + $248.9 + $212.4

= $579.44

Therefore , amount of dividend received by Darryl each year is $579.44  .

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Please help

Graph -8+x=4y-16

Answers

Answer:

Step-by-step explanation:

     I am going to transform this equation into slope-intercept form, as it is usually easier to graph it that way.

  Given:

-8 + x = 4y - 16

  Add 16 to both sides of the equation:

-8 + x + 16 = 4y

  Divide both sides of the equation by 4:

-2 + [tex]\frac{1}{4}[/tex]x + 4 = y

  Reflexive property and combine like terms:

y = [tex]\frac{1}{4}[/tex]x + 2

  Now, we will graph. The 2 is our y-intercept and the  [tex]\frac{1}{4}[/tex] is our slope, graphed as "rise over run." This means we will rise one unit up and run four units right.

      See attached.

You have a $250 card to use at a sporting goods store. Each pair of sneakers is worth $80 and a pair of sacks costs an inequality that represents the possible numbers of x pairs of socks you can buy when you buy 2 pairs of sneake

Answers

The inequality that represents the the possible numbers of x pairs of socks you can buy when you buy 2 pairs of sneakers, using a system of equations, is of:

y ≤ 7.

What is a system of equations?

A system of equations is a set of equations involving multiple variables that are related, and then operations are made to solve these equations and identify the numeric value of each variable in the context of the problem from which the system was built.

For this problem, the variables are given as follows:

Variable x: number of pairs of sneakers bought.Variable y: number of pairs of socks bought.

You have a $250 card to use at a sporting goods store. Each pair of sneakers is worth $80 and a pair of socks costs $12, hence the inequality regarding the total spending is:

80x + 12y ≤ 250.

When two pairs of sneakers are bought, we have that:

x = 2.

Hence the inequality regarding how many pairs of socks can be bought is:

80(2) + 12y ≤ 250.

160 + 12y ≤ 250.

12y ≤ 90

y ≤ 90/12

y ≤ 7. (rounded down, as you can buy 7 pairs of socks but not 8).

Missing Information

The cost of a pair of socks is of $12.

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Alana meauring hi dining room table to make a tablecloth the table i zero. 45 m longer than it i wide if it i 1. 06 m wide how long i it?

Answers

The length of the table is 1.51 meters.

Allan is measuring his dining room table to make a tablecloth. The table is 0.45 meter longer than it is wide. The width of the table is 1.06 meter. We need to find out the length of the table.

Let the length of the table be represented by the variable "L". In the context of a mathematical problem or experiment, a variable is a quantity that may vary. The length of the table is the sum of the width of the table and the difference between the two quantities.

L = 1.06 + 0.45

L = 1.51

Hence, the length of the table is 1.51 meters.

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if x varies inversly as the square root of y varies and x=1 when y=4, find;
relationship between x and y
the value of x when y =9
the value of y when x=12​

Answers

Answer:

x = 2/√y  or  y = 4/x²x = 2/3y = 1/36

Step-by-step explanation:

When x varies inversely as the square root of y, and x=1 when y=4, you want to find ...

the relationship between x and ythe value of x when y =9the value of y when x=12​.

Inverse variation

The given relation can be written using a constant of proportionality as ...

  x = k/√y  . . . . x varies as the inverse of the square root of y

The value of k can be found from the given values for x and y:

  1 = k/√4 = k/2

  2 = k . . . . . . . . . multiply by 2

Relationship

The relationship between x and y can be written as ...

  x = 2/√y

Solving for y, it can also be written as ...

  y = 4/x²

For y = 9

The value of x is ...

  x = 2/√9

  x = 2/3

For x=12

The value of y is ...

  y = 4/12² = 4/144

  y = 1/36

Aiden ha $3 worth of dime and quarter. He ha 2 more dime than quarter. Determine the number of dime and the number of quarter that Aiden ha

Answers

The number of dime and the number of quarters that Aiden have are 10 and 8 respectively.

How to find the number of dime and quarter?

Aiden ha $3 worth of dime and quarter. Aiden has 2 more dime than quarter. The number of dime and the number of quarter that Aiden has can be calculated as follows:

let

x =  number of quarter

y = number of dime

Therefore,

y = 2 + x

y - x = 2

0.1y + 0.25x = 3

Multiply equation(ii) by 10

y - x = 2

y + 2.5x = 30

subtract equation(i) from equation(ii)

3.5x = 28

x = 28 / 3.5

x = 8

Hence,

y = 2 + 8

y = 10

Therefore,

number of dime  = 10

number of quarters = 8

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a farmer wants to make a rectangular field with a total area of 2000 square meters. it is surrounded by a fence. it is divided into 4 equal areas by fences. what is the shortest total length of fence this can be done with?

Answers

The shortest total length of fence this can be done with will be 440 m as the total area is 2000 m².

What is perimeter?

The length of a shape's outline is its perimeter. You must add the lengths of all four sides of a rectangle or square to determine its perimeter. In this instance, x represents the rectangle's length and y its width. The distance around an object is called the perimeter. For instance, the yard of your home is fenced in. The fence's length serves as the perimeter. Your fence is 200 feet long if the yard is 50 feet by 50 feet.

Here,

The area=2000 m²

xy=2000

x=2000/y

p=4x+2y

p=4*(2000/y)+2y

=8000/y+2y

p'=-8000/y²+2

-8000/y²+2=0

2y²-8000=0

y²-4000=

y²=4000

y= 20 m

p=8000/20+2*20

p=400+40=440 m

Given that the total area is 2000 m², the shortest total length of fence that can be used is 440 m.

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aaron collects 54 rocks at the beach. he wants to give an equal number of rocks to 6 of his friends. how many rocks did each of aaron's friends get? if r represents the number of rocks each friend will get, which equation could be used to solve the problem?

Answers

Each of Aaron's pals receives nine (9) rocks in total.

The question states that,

Aaron collects a total of 54 rocks at the beach.

He wants to give an equal number of rocks to six (6) of his friends.

It is given that let 'r' be the number of rocks each of his friends gets.

The required equation is;

Rock's Aaron's friends get,

→ 6*r = 54

   r = 54/6

   r = 9

The total number of rocks each of Aaron's friends get is 9.

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Which equation represents a line which is perpendicular to the line y=2x-5y
A. 2x−y=−4
B. 2y−x=4
C. x+2y=-6
D.2x+y=-2

Answers

Answer:

c

Step-by-step explanation:

To find a perpendicular line, you must compare the slopes. With the equation y=2x-5, we're looking for the inverse/opposite slope of -1/2.

Option A still has a slope of 2. Option B, when everything is in the format of mx+b = y format is -x-4=-2y. which gives us 1/2 but not -1/2. C when everything is on the right side gives us -2y=x-6. Divide both sides by -2 to get the y by itself and you're left with y = -1/2x+3. Now we found the equation that gives us the -1/2 slope we were looking for.

if y=10 when x=50 find y when x=125 ANSWER WITH COMPLETE SOLUTION PLEASE​

Answers

[tex]{\sf{ \frac{10}{50} = \frac{y}{125} \\ →50y = 10 \times 125 \\→ y = 25}}[/tex]

Please mark the brainliest if you like.

Triangle ABC is congruent to triangle XYZ. Side BC corresponds to what side in triangle XYZ?​

Answers

Answer:

Side BC is congruent to side YZ

Which of these strategies would eliminate a variable in the system of equations?

Answers

The strategy which would eliminate a variable in the system of equations is to multiply the top equation by 6 ,multiply the bottom equation by -5 then add the equation and is denoted as option B.

What is Equation?

This is a mathematical term which is made up of two expressions and is connected by an equal sign.

In the example given below:

8x + 5y = -7

-7x + 6y = -4

We can multiply the top by 6 and the bottom by -5 which will result in:

48x + 30y = -42

35x - 30y = 20

They are then added to each other to give:

48x + 35x + 30y - 30y = -42 + 20

83x = - 22

x = -22/83

From this we can notice that the variable y was eliminated which is why option B is the correct choice.

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P and q started a business. the profits earned are divided in the ratio of their capital, 2:3. if p invested capital of $40,000, what was the capital invested by q?

Answers

The capital invested by q is $60,000 when p invested capital of $40,000.

According to the question,

We have the following information:

The ratio of the profits earned by by p and q is 2:3.

Amount invested by p = $40,000

Now, let's take the amount invested by p to be $2x and the amount invested by q to be $3x.

So, we have the following expression:

2x = 40000

x = 40000/2

x = $20000

Now, putting the value of x in 3x in order to find the amount invested by q:

3*20,000

$60,000

Hence, the amount invested by q is $60,000 when p invested capital of $40,000.

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Given (x – 7)2 = 36, select the values of x. x = 13 x = 1 x = –29 x = 42

Answers

If the equation 2(x-7) = 36, then the value of x is 13 and 1

The equation is

[tex](x-7)^2[/tex] = 36

The equation is defined as the statement the connect the two expression with an equal sign.

We know the square of 6 is 36

[tex]6^2[/tex] = 36

Substitute the value in the equation

[tex](x-7)^2=6^2[/tex]

Apply square root in the both side of the equation

[tex]\sqrt{(x-7)^2} = \sqrt{6^2}[/tex]

Then the equation will become

x - 7 = ± 6

If the value is +6

x - 7 = 6

Add both side of the equation by 7

x - 7 +7 = 6+7

x = 13

If the value is -6

x - 7 = -6

Add both side of the equation by 7

x - 7 + 7 = -6 + 7

x = 1

Hence, If the equation 2(x-7) = 36, then the value of x is 13 and 1

The complete question is:

Given [tex](x-7)^2=36[/tex], find the value of x.

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PLEASE HELP ASAP I NEED TO GET THIS DONE!!

Answers

Answer:

B and D

Step-by-step explanation:

A is wrong because x has a negative exponent


C is wrong because x is a denominator

Write the equation of the line is fully simplified slope intercept form

Answers

Answer:

y = - 2x + 1

Step-by-step explanation:

the equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

calculate m using the slope formula

m = [tex]\frac{y_{2}-y_{1} }{x_{2}-x_{1} }[/tex]

with (x₁, y₁ ) = (- 5, 11) and (x₂, y₂ ) = (6, - 11) ← 2 points on the line

m = [tex]\frac{-11-11}{6-(-5)}[/tex] = [tex]\frac{-22}{6+5}[/tex] = [tex]\frac{-22}{11}[/tex] = - 2

the line crosses the y- axis at (0, 1 ) ⇒ c = 1

y = - 2x + 1 ← equation of line

Help please, I can’t think of what this is plus time is running out

Answers

The measure of width of given figure is 2 units. Therefore, option B is the correct answer.

From the given figure, the length is 9 units and the width is 1 unit.

What is a length?

Length is defined as the measurement or extent of something from end to end. In other words, it is the larger of the two or the highest of three dimensions of geometrical shapes or objects. For example, a rectangle has its dimensions as length and breadth.

From the figure, the width is 1+1=2 units

The measure of width of given figure is 2 units. Therefore, option B is the correct answer.

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A = LW is the formula for the area of a rectangle.

Solve the formula for W.

Answers

W=A/L is the answer

Write the coordinates of the vertices after a rotation 270° counterclockwise around the origin.

T=
U=
V=
W=

Answers

The coordinates of the vertices after a rotation 270° counterclockwise around the origin is

T' = (-8, -4)

U' = (-8, -6)

V' = (-3, -9)

W' = (-3, -7)

The coordinates of T = (4, -8)

The coordinates of U = (6, -8)

The coordinates of V = (9, -3)

The coordinates of W = (7, -3)

The rule of rotating 270 degree clockwise around the origin is

P(x, y) = P'(y, -x)

The coordinates of T' = (-8, -4)

The coordinates of U' = (-8, -6)

The coordinates of V' = (-3, -9)

The coordinates of W' = (-3, -7)

Hence, The coordinates of the vertices after a rotation 270° counterclockwise around the origin is

T' = (-8, -4)

U' = (-8, -6)

V' = (-3, -9)

W' = (-3, -7)

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the number of defectives in 10 different samples of 50 observations each is the following: 5, 1, 1, 2, 3, 3, 1, 4, 2, 3. what is the estimate of the population proportion of defectives?

Answers

The estimate of the population proportion of defectives is 0.05.

Given that,

There are 10 different samples of 50 observations, that is, total of 500 observations.

To find : The estimate of the population proportion of defectives

And total number of defectives from 500 observations is (5+1+1+2+3+3+1+4+2+3) = 25

Thus, the point estimate for the population proportion defectives will be,

=25/500=0.05

or just obtain the individual proportion of each sample and then take their average to obtain the same result.

Thus, the point estimate for the population proportion defectives will be 0.05

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The Question: An employer provides two payment options for employees.
Option A: Receive $200 the first week. Receive an additional $50 for each of the following weeks.
Option B: Receive $200 the first week. Receive an additional 10% for each of the following weeks.

My Answer: Option A; 200, 250, 300, 350, 400, 450. Option B; 200, 220, 242, 266.2, 292.82, 322.1

Am I correct?

Answers

Answer:

Your first option is correct but your second is wrong

Step-by-step explanation:

In option b-

when an employee receives 10% additional for each of the following weeks:

10% of 200=  10/100 x200= 20

it means he will get $20 in extra in every week

so it will be- 220,240,260

what is the difference between independent samples and related samples when dealing with two samples

Answers

The difference between an independent sample and a dependent sample is that the dependent sample for one set of items is paired measurement while measurements made on two samples are termed an independent sample.

In statistics, while considering two samples and conducting a hypothesis test, one should be aware of which type of test should be conducted based on samples whether they are dependent or independent. If the value of another sample is affected by any one sample then the samples are dependent. If no information can be deduced from the other sample using one sample then the samples are independent.

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The slope of a ramp leading from the door to the ground is 5/3. the first point has a height of 27 inches; the second point has a height of 12 inches. what is the horizontal distance,x, in inches that is between these two markers?

Answers

x=12in

Slope of ramp= SecФ =5/3

Let the height of first point be H1

Let the height of second point be H2

Then, H1=27in (Provided in the question)

         H2=12in (Provided in the question)

The base of the right angled triangle then = H1-H2

Let the perpendicular be denoted as p

Let the base be denoted as b

Let the hypotenuse be denoted as h

then, b=H1-H2

b=27-12

b=15

The Formula of SecФ=1/CosФ

Since, CosФ= Base/Hypotenuse

SecФ=/Hypotenuse/Base

SecФ= h/b

SecФ= 5/3 (Provided in the question)

then,

5/3=15/b

cross multiplying

5b=15x3

b=15x3/5

cancelling out 15 by 5

b=3x3

b=9

From Pythagoras theorem

[tex]h^{2}[/tex]=[tex]p^{2}[/tex]+ [tex]b^{2}[/tex]

putting values in the equation above:

[tex]15^{2}[/tex]=[tex]p^{2}[/tex] +[tex]9^{2}[/tex]

15x15=[tex]p^{2}[/tex]+81

225-81=[tex]p^{2}[/tex]

[tex]\sqrt{225-81}[/tex]=p

[tex]\sqrt{144}[/tex]=p

12=p

Since slope of ramp is equivalent to angle of depression

thus, p=x

x=12in

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Choose ALL answers that describe the quadrilateral UVWX if UV = 31,
VW = 67, WX = 45, XU = 56, m/U = 146°, m/V = 54°, m/W = 95°,
and m/X = 65°.
Parallelogram
□ Quadrilateral
Rectangle
Rhombus
Square
Trapezoid

Answers

The correct option ; Quadrilateral, has the given information describing quadrilateral UVWX.

What is meant by the term Quadrilateral? A polygon comprising four sides, 4 angles, and 4 vertices is called a quadrilateral.There are some aspects that all quadrilaterals share. These attributes are:There have been four of them.There have been four of them.360° is the summation of all interior angles.There have been two diagonals in them.

For the given values in the question;

In the quadrilateral UVWX

Sides are;UV = 31,VW = 67, WX = 45, XU = 56, Angles are-m/U = 146°, m/V = 54°, m/W = 95°,and m/X = 65°.

As, none of the sides are equal to other and none of the angles are equal to the other.

Thus, the this information shows the values are given for quadrilateral.

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Pls pls pls help it has to be turned in today!

Answers

Using the compound amount formula, the amount after 40 years is 2000(107/100)^40.

In the given question,

Esther got a summer job and decided to set aside $2000 to prepare for retirement without making monthly contribution.

She invests in the US stock market through as index fund that averages a 7% return compounded annually over this 40 year period.

We have to find the total balance in the account after 40 years.

We have to find total balance compounded annually.

The formula of the compound amount is

A = P(1+r/100)^n

where A = Amount

P = Principal Amount

r = interest rate

n = time

From the question we know that

P = $2000, r = 7%, n = 40

Now putting the value in formula

A = 2000(1+7/100)^40

Simplifying

A = 2000(1×100/100+7/100)^40

A = 2000(100/100+7/100)^40

A = 2000((100+7)/100)^40

A = 2000(107/100)^40

You can find the amount after simplifying the amount.

Hence, the amount after 40 years is 2000(107/100)^40.

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the equation 32divided ? =8 she says the value of ? is 4 does ella answer make sense ?

Answers

Ella answer makes sense because the value of  ? is 4

How to determine the value of ? in the equation make sense?

Given: the equation 32 divided ? =8 she says the value of ? is 4

32 / ? = 8    

Let x represent ? in the equation, thus:

32 / x = 8         cross multiply

8x = 32

x = 32/8

x = 4

Since x = 4. This implies ? = 4

Also, the value that divides 32 to give is 4

Since the value of ? is 4. Therefore, Ella's answer makes sense

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suppose you paid $4 for a bet on a horse and, as a result, you will win $110 if your horse wins a given race. find the expected value of the bet (in $) if the odds that the horse will win are 3 to 12.

Answers

The expected value of the bet if the odds that the horse will win are 3 to 12 is $18.8

What is expected value?

Expected value is the predictive value of all the possibilities that occur by multiplying the value by the probability.

Winning probability = odds / total outcomes

= 3 / (3 + 12)

= 3 / 15

= 0.2

Now, we need to calculate expected value.

= winning probability x amount won - losing probability x amount lost

= 0.2 x 110 - (1 - 0.2) x 4

= 22 - 3.2

= 18.8

Thus, the expected value of the bet if the odds that the horse will win are 3 to 12 is $18.8

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(1 point) if you have 140 meters of fencing and want to enclose a rectangular area up against a long, straight wall, what is the largest area you can enclose?

Answers

The largest area that can be enclose in straight wall is 2450 m².

What is meant by the largest area?Having to maximize or decrease a geometric figure's measurements, area, or volume is a special example of a geometry word problem.

Let 'x' be the length of rectangle.

Let 'y' be the width rectangle.

Perimeter =  140 meters

2x + y = 140      

y = 140 - 2x

Area = xy

Put the value of y in area.

Area = x(-2x + 140)

Area = -2x² + 140x

Differentiating the area with respect to x.

dA/dx = -4x + 140

Put dA/dx = 0 to get the critical point.

-4x + 140 = 0

x = 140/4

x = 35

Largest area at x = 35.

y = 140 - 2x

y = 140 - 2×35

y = 70

Area = xy

Area = 70×35

Area = 2450 m²

Thus, the largest area that can be enclose in straight wall is 2450 m².

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select all equations that are equivalent to (5x+6)/2=3-(4x+12)

Answers

The equivalent equation of the equation, [tex]\frac{5x+6}{2}=3-(4x+12)[/tex] is 5x + 6 = -18 - 8x

How to find equivalent equation?

Two equations are said to be equivalent when they have the same solution set.

Equivalent equations are algebraic equations that have identical solutions or roots.

Therefore, let's find the equivalent equation of the equation.

[tex]\frac{5x+6}{2}=3-(4x+12)[/tex]

Let's open the bracket on the right side

[tex]\frac{5x+6}{2}=3-(4x+12)[/tex]

[tex]\frac{5x+6}{2}=3 - 4x - 12[/tex]

[tex]\frac{5x+6}{2}=(-9-4x)[/tex]

cross multiply

5x + 6 = 2(-9 - 4x)

5x + 6 = -18 - 8x

5x + 8x = -18 - 6

13x = - 24

divide both sides by 13

x = - 24 / 13

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