A couple gets financing for 80% of the $150,000 purchase price of a house at the rate of 6% on the monthly unpaid balance. Use the table provided to find the total amount paid to the finance company if the loan is repaid in 40 years.
a.
$231,948.00
c.
$317,376.00
b.
$289,005.00
d.
$141,509.00

Answers

Answer 1

Answer: $317,376.00 is the correct answer

Answer 2

During a 40-year period, $316,920 has been paid to the finance firm in total.

What is the percentage?

A value or ratio that may be stated as a fraction of 100 is referred to as a percentage in mathematics. If we need to compute a percentage of a number, we should divide it by its whole and then multiply it by 100. The proportion, therefore, refers to a component per hundred. Per 100 is what the term percent signifies. The letter "%" stands for it.

Calculate the total amount paid to the finance company over the course of 40 years when the couple finances 80% of the $150,000 purchase price of a house at 6% interest on the monthly unpaid balance.

Since the couple finances 80% of the $150,000 purchase price, the loan amount is:

0.8 x $150,000 = $120,000

Next, we need to calculate the monthly interest rate. The annual interest rate is 6%, so the monthly interest rate is:

6% / 12 = 0.5%

Now we can use the formula for calculating the monthly payment on a loan:

[tex]PMT = (r * P) / (1 - (1 + r)^{(-n)})[/tex]

where:

PMT = monthly payment

r = monthly interest rate

P = loan amount

n = total number of payments

Plugging in the values, we get:

[tex]PMT = \frac{0.005 * 120,000}{ (1 - (1 + 0.005)^{(-40*12)})}[/tex]

PMT = $660.25(rounded to the nearest cent)

Therefore, the couple will make monthly payments of $536.82 to the finance company for 40 years. To find the total amount paid, we can multiply the monthly payment by the total number of payments:

Total amount paid = $660.25 x 12 x 40 = $316,920

Therefore, the total amount paid to the finance company over 40 years is $316,920.

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Complete question:

A couple gets financing for 80% of the 150,000 purchase price of a house at the rate of 6% on the monthly unpaid balance. Find the total amount paid to the finance company if the loan is repaid in 40 years.


Related Questions

Enter the solution to the problem x/2 = 4.5

Answers

Answer: 9

Step-by-step explanation:

do the opposite 2·4.5=9

x=9

check your work

9/2 or 9÷2=4.5

Answer:

x4

Step-by-step explanation:

If the cost of electricity increases by 30% by what percentage one should reduce his spend in order that spends on electricity stays the same?

Answers

Answer:

That depend on how much you spend on electricity, and how much other spending you do.

For example: If your electric bill is 100 dollars, and it increases 30 percent to 130, that’s 30 extra dollars. If your electric bill is only 50 dollars, it will increase to 65, that’s an extra 15.

What percentage that increase is of your current spending will vary according to how much you spend. If you only spend 30 dollars, then you’ll need to cut all of it, or half of it to offset the increases I mentioned above. That’s a 100 percent or 50 percent reduction.

If you spend 1000 dollars, you’ll only need to cut spending by 3 percent to get that 30 dollars, or 1.5 percent to get the 15 dollars.

It all depends on your specific values, you can’t say “For every xx percent your electric bill increases, you need to cut spending by yy percent.”

for the consumption of X unit let u spends Y

for X - Y cost

for increased 30% means 13X/10 - 13Y/10 cost

extra money is 13Y/10 - Y = 3Y/10

note: hope this helps :)

thus (3Y/10)/ (13Y/10) *100 % = 300 / 13 = 23.07%.

Draw a quadrilateral with one pair of parallel sides and two right angles. Explain why this figure is a trapezoid.

Answers

Answer:i cant draw on brainly

Step-by-step explanation:i cant draw

A line through the origin and (10,4) is showin in the standard (x,y) coordinate plane below. The acute angle between the line and the positive x-axis has measure θ.

Answers

Answer:

[tex]\cos\theta=\frac{10}{\sqrt{116}}[/tex]

Step-by-step explanation:

To solve this, we can imagine a line drawn directly down from the point (10,4) to the x-axis. This would make a right triangle with length 10 and height 4.

[tex]\cos\theta[/tex] is equal to the length of adjacent leg to the angle divided by the length of the hypotenuse of the triangle. From the picture, we can see the adjacent leg is 10.

We can use Pythagorean's Theorem to find the hypotenuse (let [tex]c[/tex] represent the length of the hypotenuse):

[tex]10^2+4^2=c^2[/tex]

[tex]100+16=c^2[/tex]

[tex]116=c^2[/tex]

[tex]c=\sqrt{116}[/tex]

Thus, we know the adjacent is 10, and the hypotenuse is [tex]\sqrt{116}[/tex]. This means [tex]\cos\theta=\frac{10}{\sqrt{116}}[/tex].

Hope this helps!

can someone please help with number 9??? i need it for an important grade

Answers

Number nine of what?

Answer:

C

$492 is sitting in the bank with it being a positive number

$3 dollars are being charged per month.

You randomly choose a tile. Without replacing the first tile, you choose a second tile. Find the probability of the compound event. Write your answer as a fraction or percent rounded to the nearest tenth.The probability of choosing an odd number and then a 20

Answers

Answer:

P odd number, then 20) = 1 /14

Step-by-step explanation:

P( odd number) =  number of odd numbers/ total

number of odd numbers = 3

total = 7

P( odd number)   = 3/7

We keep the tile so that there are only 6 tiles left

P (20) = number of 20/ total

         = 1/6

We multiply the probabilities together

P odd number, then 20) = 3/7 * 1/6 = 3/42 = 1 /14

what is 100 divided by 52

Answers

1.92307692308

Hope this helps! :D

What is-26000-(-9500)

Answers

Answer:

[tex]-16500[/tex]

Step-by-step explanation:

In order to find the answer to this question you need to use KCC (Keep, Change, Change) and solve.

[tex]-26000-(-9500)[/tex]

Use KCC

[tex]-26000 + 9500[/tex]

[tex]-26000+9500=-16500[/tex]

[tex]=-16500[/tex]

Hope this helps.

Answer:

-35500 hope this helps

Step-by-step explanation:

Which Heinz Ketchup offer is the better deal? (Assume the price stays proportional and the Ketchup is
Identical.) Show ALL work and labels, and make sure you include a "because." in your answer.
Deal A
38 oz for $2.98
Deal B
114 oz for $6.48

Answers

B because you get more for a cheaper price.

Gia has 60 meters of fence. She wants to
mark off a square area in the yard for her
dog. What will be the side length of the
square if she uses all of the fence?
The side length will be
meters.

Answers

Answer:

15

Step-by-step explanation:

A square has 4 sides, so you can do 60 divided by 4 to find how many meters on each side.

60 / 4 = 15 meters for the side length

The side length of the square yard is 15 m.

What is a square?

A square is a two-dimensional figure that has four sides and all four sides are equal.

The area of a square is side².

We have,

The total length of the fence = 60 meters.

The square yard will have the same length on all four sides.

This means,

The side length of the square yard.

= 60/4

= 15

Thus,

The side length is 15 m.

Learn more about squares here:

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PLEASE HELP !! ILL GIVE BRAINLIEST *EXTRA POINTS*..
IM GIVING 40 POINTS !! DONT SKIP :((.

Answers

Answer:

[tex]y=-10x+43[/tex]

Step-by-step explanation:

We need to put this line into slope-intercept form, which is [tex]y=mx+b[/tex], where [tex]m[/tex] is the slope and [tex]b[/tex] is the [tex]y[/tex]-intercept.

The slope is rise over run, how much the [tex]y[/tex] value changes for one [tex]x[/tex] value. This can be found with the equation: [tex]m=\frac{y_2-y_1}{x_2-x_1}[/tex] where [tex](x_1,y_1)[/tex] and [tex](x_2,y_2)[/tex] are points on the line. Plugging in the first two points:

[tex]m=\frac{3-13}{4-3}=-10/1=-10[/tex]

We know them that [tex]m=-10[/tex]. This gives us for now [tex]y=-10x+b[/tex].

Now, to solve for [tex]b[/tex], plug in any one of the points (I'll use (3,13)):

[tex]13=-10(3)+b[/tex]

[tex]13=-30+b[/tex]

[tex]b=43[/tex]

This gives us the equation [tex]y=-10x+43[/tex].

The Stock Market Nadia is a stockbroker. She earns 11% commission each week. Last week, she
sold $5,300 worth of stocks. How much did she make last week in commission? If she averages that
same amount each week, how much did she make in commission in 2011?
Last week, she made $
in commission.

Answers

Answer:

she made $583 commission last week

she made $30313

Step-by-step explanation:

5300 * .11=583

583 * 52 weeks =30316

annual sales for a company are $150,000 and increases at a rate of 8% per yr for 6 yrs. After 6 yrs the company annual sales are?​

Answers

Answer:

After 6 years, the company's annual sales will be $222,000

Step-by-step explanation:

8 percent of 150,000 is 12,000 which is the annual sale increase every year. Multiply that by 6 which is 72,000, the amount of annual sales after 6 years. Add that with 150,000 and you'll get 222,000.

Mia has 4 horses and 11 apples. She gives each horse the same number of
apples, and she uses as many apples as she can. How many apples does Mia
give each horse? How many apples are left?
» Complete the equation.
11 : 4 =
R

Answers

Answer:

She gives 2 apples to each horse, and there will be 3 apples left.

Step-by-step explanation:

We know that Mia has 4 horses and 11 apples

She gives each horse the same number of apples, such that she uses the maximum number of apples that she can.

If she has 4 horses and she gives the same amount to each horse (let's say that this amount is N apples to each horse)

Then she uses a total of 4*N apples.

Then if N  =  1, she needs 4*1 = 4 apples.

if N = 2, she needs 4*2 = 8 apples.

if N = 3, she needs 4*3 = 12 apples.

But she has only 11 apples, so she can not give 3 apples to each horse.

Then the maximum number of apples that she can give to each horse is N = 2, 2 apples to each horse.

Now, we know that she has 11 apples in total, and she gives 2 to each of the 4 horses, then she gives:

4*2 = 8 apples.

The number of apples that are left are:

11 - 8 = 3

There are 3 apples left.

9. Find m LMN.
(4x + 2)
M
-(7x - 37)
N
P
Plss

Answers

Answer:

108°

Step-by-step explanation:

Triangle LPM is similar to triangle MPN (they share MP, LP=NP and they both contain right angles.

This means that ∠LMP = ∠ PMN:

∠LMP = ∠ PMN

4x+2 = 7x-37

3x=39

x=13

∠LMN = ∠LMP + ∠ PMN

= 4(13)+2 + 7(13)-37

= 54 + 54

=108°

The formula P=a+b+c gives perimeter P of triangle side lengths a,b,and c how much greater is perimeter when triangle measures 33yds 56yds and 65yds to a triangle that measures 26yds 49yds and 38yds

Answers

Answer:

41 yards greater is the perimeter of 1st triangular field than the perimeter of 2nd triangular field.

First we have to calculate the perimeter of 1st triangle.

Given:

a = 33 yards

b = 56 yards

c = 65 yards

Now we have to calculate the perimeter of 2nd triangle.

Given:

a = 26 yards

b = 49  yards

c = 38 yards

Now we have to calculate which triangle has greater perimeter and how much greater.

Therefore, 41 yards greater is the perimeter of 1st triangular field than the perimeter of 2nd triangular field.

Step-by-step explanation:

(154-113)

41 yards bigger

Answer:

41 yds

Step-by-step explanation:

33+56+65=154

26+49+38=113

154-113=41 yds

Find the orthocenter of a triangle with vertices (−8, 11), (−3, 11), and (−3, −12).
The orthocenter of triangle is at ( , ).

Answers

Answer:

( -3, 11)

Step-by-step explanation:

find the equation of the line between points ( -8, 11) and (-3, 11)

y= mx +b , where m is slope snd b is y-intercept

m = (y2-y1)/ (x2-x1) = 11-11/ -8- -3 = 0/ -5 = 0 ( if slope is o is a horizontal line)

y = 0x + b and pick a point to find b

11 = 0*-8 + b so b= 11

y = 11 is the equation of the line between points ( -8, 11) and (-3, 11) and the equation of its perpendicular line is x=-3

the equation of the line between points  (-3, 11) and ( -3, -12) is x= -3 and the perpendicular to it is y= 11

so we have a right triangle so the ortho center is at (-3, 11) where the vertex of the 90 degree angle is

5.9 divided by 35.4 equals?

Answers

5.9 divided by 35.4 is 0.16

Answer:

0.167 or 0.1666666666666

Step-by-step explanation:

5.9 ÷ 35.4 = 0.16666666666 (the 6 is unending)

if you round that:

0.167

Renae drives a delivery can on the weekends
She had a total of 12 3/4 gallons of fuel Renae knows that ever gallon fbfuel she can travel 21 miles of she uses all her Fuel how many miles will she travel

Answers

Answer:

267 3/4 miles

just do 12 3/4*21

20% tip on a
$30 haircut.

Answers

the tip is 15$ im pretty sure

The equation y =
12 represents a proportional relationship. What is the
constant of proportionality?
A. 12
B. X
C. 1
D. 0

Answers

Answer:

The  constant of proportionality k = 12

Hence, option A is true.

Step-by-step explanation:

We know that when 'y' varies directly with 'x', we get

y ∝ x

y = kx

Where 'k' is called the constant of proportionality.

In our case,

The given equation is

y = 12x

comparing with the equation y = kx, we can say

k = 12 which is the constant of proportionality.

Therefore, we conclude that:

The  constant of proportionality k = 12

Hence, option A is true.

A school is purchasing graphing calculators for use in math classrooms. The graph shows a relationship between the number of graphing calculators purchased and the total cost.
The constant of proportionality is 120. True or false
If a graph is a straight line, it shows a proportional relationship. True or false
Any graph that passes through origin represents a proportional relationship. True or false.
A graph must be a straight line and go through the point (0,0) in order to represent a proportional relationship. True or false.
PLEASE HELP!!

Answers

Answer:

False; false; true

Step-by-step explanation:

Pedro bought a movie ticket for $9.50 and popcom por $4.35. He has $8.75 left
over How much money did he have before he went to the movies?

Answers

Answer:

He had $22.60

Step-by-step explanation:

$9.50 + $4.35 = 13.85 + 8.75 = $22.60

In 45 years will be 4 times older how old is she now

Answers

Answer and Step-by-step explanation:

The key for this has a current age and a future age. Sometimes these problems have more than one person or has a past age.

 

       current age     future age

        x                    x+45

 

The future age is 4 times current age

 

x+45 = 4x

   45 = 3x

   15 = x

 

She is currently 15. 45 years from now she will be 60.

60 is 4 times her current age. So right now, she is 15.

#teamtrees #WAP (Water And Plant)

 

Answer:

11yrs (6months)

Step-by-step explanation:

11.5×4=45

Since .5 in years is 6 months

Find the volume of a cylinder with a diameter of 10 inches and a height that is three times the radius. Use 3.14 for pi and round your answer to the nearest hundredth. (Hint: You may only enter numerals, decimal points, and negative signs in the answer blank)

Answers

Answer:

Cylinder volume:

[tex]\pi {r}^{2} h = volume[/tex]

Hence: 3.14 × (5)^2 × 15V= 1178.1

The difference of two times a number and the number is eight

Answers

Answer:

2n-5=8

Step-by-step explanation:

that batch calls for 5 cups of flour and 4 teaspoons of vanilla if i use 6 teaspoons of vanilla how many cups will i need

Answers

5 cups & 4 teaspoons
? cups & 6 teaspoons


2.5 cups is half of 5
2 is half of 4

you increased the recipe by 1/2

so for 6 teaspoons you will need 7.5 or 7 1/2 cups of flour b/c 5 + 2.5 = 7.5

ANSWER: 7 1/2

3x3-5/5x6+19 i don’t know what I’m don’t wrong

Answers

Hi there!

For these two equations, we would be using PEMDAS...

[tex]3[/tex]·[tex]3=9-5=4[/tex]

[tex]5[/tex]·[tex]6=30+19=49[/tex]

Hope this helps!

Question /
State the quadrant in which the terminal side of the given angle lies.
0 =
77
4.
А
II
B.
I
IV
Ос
Oo
III

Answers

Answer:

9y - 19 = 62

Step-by-step explanation:

thats not that answer i dont know what  the answer is

bsmcjdndjcjsmhxkxj hxjcjj nxh hshshshsjhaha jxj sn jann u

The last day of the week of a particular month is on the 29th day of that month. What day of the week is the first day of that month? Hint: What is the last day of the week called?

Answers

Answer:

Saturday

Step-by-step explanation:

Saturday is the last day in a week.

Answer:

monday i think

Step-by-step explanation:

yea monday

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