Joe takes out a 30-year fixed rate amortized loan for 220,000, and makes equal size payments at the end of each month. The rate is quoted as being an annual nominal interest rate of 5.25% compounded monthly and Joe also has to pay closing fees equal to 5% of the value of the loan. Based on this information, find the actual interest rate realized by Joe (i.E. Taking into account the loan given to Joe and the 5% that he pays for the closing fees). Give the value as an annual nominal rate compounded monthly, and round your percent answer to two decimal places.

Answers

Answer 1

Answer:

Annual Interest Rate, r  = 5.69%

Step-by-step explanation:

Amount of loan taken = 220,000

Closing fee is 5% of the loan value

Closing fee = 5% of 222,000 = 0.05 * 220000 = 11000

Therefore, Principal, P = Loan amount + closing fee

P = 220000 + 11000

P = 231, 000

Annual rate, r= 5.25% = 0.0525

Monthly rate, i = 0.0525/12 = 0.004375

Time, n = 30 years = 30*12 = 360 months

The monthly payment will be calculated by:

[tex]PMT = \frac{P*i}{1 - (1 + i)^{-n}} \\\\PMT = \frac{231000 * 0.004375}{1 - (1 + 0.004375)^{-360}} \\\\PMT = 1275.59[/tex]

Assuming payments are made based on 220,000, let us calculate the monthly interest rate.

[tex]PMT = \frac{P*i}{1 - (1 + i)^{-n}} \\\\1275.59 = \frac{220000 * i}{1 - (1 + i)^{-360}} \\\\i = 0.00474229[/tex]

Annual rate, r = 12 * 0.0047429

r = 0.0569 = 5.69%


Related Questions

I need help on this please

Answers

Answer:

[tex]y=\frac{5}{6}x+5[/tex]

Step-by-step explanation:

Well this is actually really simple we just have to look at the line and see what attributes it has so we can make an equation.

So slope intercept form is [tex]y=mx+b[/tex].

Like to find the y intercept we know it is the point that the line touches the y axis which is 5.

Now for the slope, the slope is how far each points are from each other on a line so to find the slope we can use the following formula [tex]\frac{y^2-y^1}{x^2-x^1}[/tex].

So to do this we need two points that are on the line we can use (-6,0) and (6,10).

So y2 is 10 and y1 is 0 so 10-0 is 10 and 6 - -6 is 12 so the slope is 10/12 and we have to simplify it to 5/6 so the slope is 5/6 and now we have to put it in slope intercept -> [tex]y=\frac{5}{6}x+5[/tex]

Which set of points does NOT represent a function?
OA) (-4,-2), (-1,3), (0, 3), (5, -6)
OB) (1 -1), (3, -1), (5, -1), (-1, -1)
OC) (-2, 6), (5, 6), (-2,-6), (4,5)
OD) (7,4), (-4, 7), (-7,-4), (4, -7)

Answers

Answer:

OC is not a function

Step-by-step explanation:

It's not a function because the x cannot repeat.

The Lewis family and the Perry family each used their sprinklers last summer. The water output rate for the Lewis family's sprinkler was per hour. The water output rate for the Perry family's sprinkler was per hour. The families used their sprinklers for a combined total of hours, resulting in a total water output of . How long was each sprinkler used

Answers

The Lewis family and the Perry family each used their sprinklers last summer. The water output rate for the Lewis family's sprinkler was 15 L per hour. The water output rate for the Perry family's sprinkler was 40 L per hour. The families used their sprinklers for a combined total of 65 hours, resulting in a total water output of 1850 L . How long was each sprinkler used

Answer:

Hours of use of sprinkler by Lewis family is 30 hours.

Hours of use of sprinkler by Perry family is 35 hours.

Step-by-step explanation:

Let W = hours of use by Lewis family

65 - W = hours of use by Perry family

Then;

15W + 40*(65 - W) = 1850

15W + 2600 - 40W = 1850

(15 - 40)W = 1850 - 2600

-25W = −750

W = 750/25 = 30

Therefore;

W = 30

65 - W = 65 - 30 = 35

Hence,

Hours of use by Lewis family is 30 hours.

Hours of use by Perry family is 35 hours.

Given that ƒ(x) = 4x + 5 and g(x) = x2 – 2x – 2, find (ƒ + g)(x).

Answers

Answer:

x² + 2x + 3

Step-by-step explanation:

(f + g)(x) = f(x) + g(x), thus

f(x) + g(x)

= 4x + 5 + x² - 2x - 2 ← collect like terms

= x² + 2x + 3

lyle has 1/6 of a pound of sunflower seeds. he wants to divide them evenly into 5 snack containers. how many pounds of sunflower seeds will be in each container

Answers

Answer:

0.03333333333333

Step-by-step explanation:

1/6 = 0.1666666666666

0.16666666666666 / 5 = 0.03333333333

Tico’s Taco Truck is trying to determine the best price at which to sell tacos, the only item on the menu, to maximize profits. The taco truck’s owner decides to adjust the price per taco and record data on the number of tacos sold each day with each new price. When the taco truck charges $4 for a taco, it sells an average of 60 tacos in one day. With every $1 increase in the price of a taco, the number of tacos sold per day decreases by 7. The owner can calculate the daily revenue using the polynomial expression -7x2 + 32x + 240, where x is the number of $1 increases in the taco price. In this activity, you’ll interpret and manipulate this expression and the scenario it represents. Part D: What are some advantages of writing the polynomial expression -7x2 + 32x + 240 in factored form when interpreting this situation?

Answers

Answer:

The constant term is 240. It represents the initial daily revenue.

Step-by-step explanation:

It is given that Tico's Taco Truck is trying to determine the best price at which to sell tacos, the only item on the menu,  to maximize profits.

The owner can calculate the daily revenue using the polynomial  expression

where x is the number of $1 increases in the taco price.

Constant term does not contain any variable.

In the given expression 240 is free from variable x. So, the constant term is 240.

The value of expression is 240 for x=0. Since x is the number of $1 increases in the taco price, therefore 240 is the daily revenue when the taco price is not increased or the taco price increased by 0.

Therefore the constant term is 240 and it represents the initial daily revenue.

PLEASE HELP ASAP THIS IS TIMED. If f(x) = –x2 + 3x + 5 and g(x) = x2 + 2x, which graph shows the graph of (f + g)(x)? On a coordinate plane, a straight line with a negative slope crosses the y-axis at (0, 5) and crosses the x-axis at (1, 0). On a coordinate plane, a parabola opens down. It goes through (negative 2, negative 4), has a vertex at (0, 5), and goes through (2, negative 2) On a coordinate plane, a parabola opens up. It goes through (negative 3, 7), has a vertex at (negative 1, 2), and goes through (0, 5). On a coordinate plane, a straight line with a positive slope crosses the x-axis at (negative 1, 0) and crosses the y-axis at (0, 5)

Answers

Answer:

4th Graph

Step-by-step explanation:

Step 1: Find (f + g)(x)

-x² + 3x + 5 + x² + 2x

3x + 5 + 2x

5x + 5

Step 2: Graph

Answer:

option d on edge trash

Step-by-step explanation:

Which composition of transformations will create a pair of similar, not congruent triangles?

a rotation, then a reflection

a translation, then a rotation

a reflection, then a translation

a rotation, then a dilation

Answers

The answer is a rotation, then a dilation

Based on the information given, the composition of transformations that will bring about a pair of similar, not congruent triangles is D. a rotation, then a dilation.

What is a congruent triangle?

A congruent triangle simply means when two triangles have exactly the same side and angles.

Therefore, the composition of transformations that will bring about a pair of similar, not congruent triangles is a rotation, then a dilation.

Learn more about triangles on:

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Figure ABCD is a rectangle find the value of x

Answers

Answer:

8

Step-by-step explanation:

BD is 32 units.

BE is half of BD

3x - 8 = 32/2

3x - 8 = 16

3x = 16 + 8

3x = 24

3/3x = 24/3

x = 8

Answer:

8

Solution,

Diagonals of rectangle bisects each other.so,

2 BE = BD

2( 3x - 8 ) = 32

6x - 16 = 32

Add 16 on both sides

6x - 16 + 16 = 32 + 16

Simplify

6x = 48

divide both sides of equation by 6

6x/6 = 48/6

calculate

X = 8

Hope this helps...

Good luck on your assignment..

Complete the table of values for y=x^2-2x+5 (see table in comments)

Answers

Step-by-step explanation:

Plug in each value of x into the equation and find y:

[tex]\left[\begin{array}{cc}x&y\\-2&(-2)^{2}-2(-2)+5=13\\-1&(-1)^{2}-2(-1)+5=8\\0&(0)^{2}-2(0)+5=5\\1&(1)^{2}-2(1)+5=4\\2&(2)^{2}-2(2)+5=5\\3&(3)^{2}-2(3)+5=8\end{array}\right][/tex]

Help please ?
Solve 2x - 5 = 7

Answers

Answer:

x = 6

Step-by-step explanation:

2x - 5 = 7

Add 5 on both sides.

2x - 5 + 5 = 7 + 5

2x = 12

Divide both sides by 2.

2x/2 = 12/2

x = 6

The projected worth (in millions of dollars) of a large company is modeled by the equation w = 266(1.05) t. The variable t represents the number of years since 2000. What is the projected annual percent of growth, and what should the company be worth in 2010?

Answers

Answer:

The yearly growth percentage is 5%

The worth of the company in 2010 is 433 million of dollars approximately

Step-by-step explanation:

The annual growth percentage;

We can write the equation of w as follows;

W = 266 (1 + 0.05)^t

Compare this with ;

W = I(1 + r)^t

Where W is the worth at a particular year

I is the initial worth at year 2000

r is the rate of increase per year

and t is the time since 2010

where it is the 0.05 that represents the yearly growth percentage (r)

0.05 as a percentage is 5/100 which is 5%

Now, we want to calculate the worth of the company in the year 2010

The first thing to do here is to calculate the value of t.

The value of t is the difference between the years 2000 and 2010 and that is 2010-2000 = 10 years

Now to find the worth at 2010, simply substitute that value of t = 10 in the equation

Thus;

W = 266(1.05)^10

W = 433.2859707228

Which is approximately 433

Geometry
A.)10 units
B.)17 units
C.)14 units
D.)7 units

Answers

Answer:

14 units

Step-by-step explanation:

All we have to pay attention to in this problem is B, so we can ignore the rest of the triangle. B is 5 units directly to the left of line l, meaning that B' must be 5 units to the right of line l. This would put B' 2 units to the left of line m. That means that B" would be 2 unit to the right of line m, as that is how reflections work. Adding up all of the difference in units you have a 10 unit shift from B to B', and then a 4 unit shift from B' to B". Now adding 4+10=14 units.

answer me step by step
if don't I will report you​

Answers

The correct answer is y=28 cm


Explain

Area of 4 congruent parallelograms= 308cm^2

Area of 1 parallelogram = 308/ 4

Area of 1 parallelogram = 77 cm ^2


h+h= 14


As h+h=2h

2h=14

Divide both side by by 2

H= 7

Solve for b

As b+b = 2b

2b+6=y

Subtract both side by 6

2b+6-6=y-6

Combining numbers

2b=y-6

Divide both side by 2

2b/2 = y-6/2


Cancel 2


B= y-6/2


We have of 1 parallelogram = 77 cm^2

H= 7
B= y-6/2


Parallelogram area = bh

So now parallelogram area = y-6/2 x7

And area of 1 parallelogram = 77 cm^2


Y-6/ 2 x 7 = 77


Y-6/2 x 7= 7(11)

Cancel 7

Y-6/2 = 11

Multiple both by 2

2(y-6/ 2) = 11x2

Cancel 2 and multiple numbers

Y-6=22

Add 6 both sides

Y-6+6=22+6

Y=28






Kite E F G H is inscribed within a rectangle. Points F and H are midpoints of the sides of the rectangle. Points E and G are parallel to the side of the rectangle.
Kite EFGH is inscribed in a rectangle such that F and H are midpoints and EG is parallel to the side of the rectangle.

Which statement describes how the location of segment EG affects the area of EFGH?

The area of EFGH is One-fourth of the area of the rectangle if E and G are not midpoints.
The area of EFGH is One-half of the area of the rectangle only if E and G are midpoints.
The area of EFGH is always One-half of the area of the rectangle.
The area of EFGH is always One-fourth of the area of the rectangle.

Answers

Answer:

The area of EFGH is always One-half of the area of the rectangle.

Step-by-step explanation:

If F and H are midpoints of sides of rectangle then FH is parallel to the other side of rectangle so FH is perpendicular to the EG. That means the lenght of FH is equal to lenght of rectangle, and the lenght of EG is equal to width of rectangle.

So the area of the rectangle:  [tex]A_{rectangle}=EG\cdot FH[/tex]

FH ⊥ EG so the area of quadrangle EFGH:

[tex]A_{_{EFGH}}=\frac12EG\cdot FH=\frac12A_{rectangle}[/tex]

no matter the location of segment EG

The area of EFGH is always One-half of the area of the rectangle.

What is mean by Rectangle?

A rectangle is a two dimension figure with 4 sides, 4 corners and 4 right angles. The opposite sides of the rectangle are equal and parallel to each other.

We have given that;

the kite EFGH is inscribed in a triangle and F and H are midpoints and EG is parallel to the side of rectangle.

The kite consists of 2 triangle that are EFG and EHG.

Now,

In a triangle EFG is,

= 1/2 x EG x h......(1)

where h is the height from F to EG

Also the area of EHG:

= 1/2 x EG x h₁

where is the height from H to EG

We also know that h₁ + h is the width of the rectangle and EG is the length of the rectangles.

Area of Kite = = 1/2 x EG x h + 1/2 x EG x h₁

Also, The area of a rectangle is rectangle length × rectangle width.

Thus, The Kite EFGH is inscribed in a rectangle such that F and H are midpoints and EG is parallel to the side of the rectangle.

Hence, The statement describes how the location of segment EG affects the area of EFGH is the area of EFGH is always One-half of the area of the rectangle.

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ASAP What is a downside of receiving a tax refund?

Answers

Answer:

You've given Uncle Sam an interest-free loan of your money for a full year. ... If you had received your expected refund incrementally as part of your pay, you could have used it to pay bills, start an emergency fund or save for something special.You are at the mercy of the IRS, which already is at the mercy of a frequently late-acting Congress when it comes to tax laws. If Congress and the IRS are slow, then so is your receipt of your refund.

the picture is the qestion​

Answers

Answer:

The answer is option D.

Step-by-step explanation:

Because -3/-5 = 3/5 since the negative sign cancel each other.

Hope this helps you

Answer:

The fourth  option

Step-by-step explanation:

-3/5 is the same as - 3/5 or 3/-5 (it doesn't matter where the negative sign goes-on the side, numerator, or denominator)

-(-3/-5) is basically negative of -3/-5

-3/-5 is the not the same as -3/5

can someone help me with the question, please.

Answers

Answer:

x = arcsin 0.591 = 0.632 radian or 36.21 degrees

Step-by-step explanation:

Angle x and the sides 13 and 22 cm are related through the sine function as follows:

            opposite side      13 cm

sin x = ---------------------- = ------------- = 0.591

              hypotenuse         22 cm

Now find x using the inverse sine function:

x = arcsin 0.591 = 0.632 radian or 36.21 degrees

Answer:

36.22°

Solution,

Perpendicular = AB

hypotenuse = AC

we know that,

[tex]sin \: theta = \frac{perpendicular}{hypotenuse} [/tex]

[tex]sin \: x \: = \frac{ab}{ac} [/tex]

[tex]x = {sin}^{ - 1} \frac{13}{22} [/tex]

[tex]x = 36.22[/tex]

Hope this helps...

A magician asks two volunteers to each draw a card from a standard deck of cards. What is the probability that the first card is a heart and the second card is a dimand?

Answers

Answer:

The probability of choosing a heart, P(Heart) = 13/52 = 0.25

Step-by-step explanation:

Infinite solutions No Solution (0,3)

Answers

Answer:

1. no solution

2. (0,3)

3. IMS (Infinitely Many Solutions)

Step-by-step explanation:

First graph has parallel lines, which means the lines will never intersect, therefore it will be impossible to get a solution.

Second Graph has 2 lines that intersect at points (0,3) which will give only one solution.

Third Graph has 1 line that overlaps at every point, which means that any point which is on the that line is a solution.

hiii

please follow me and brain list answer

Infinite solutions No Solution (0,3)

A bus needs to cover a distance of 240 km in less than 5 hours. Which of the following inequality represents the speed (s) of the bus?.

Answers

Answer:

Step-by-step explanation:

Let s represent the speed of the bus.

From the information given, the bus needs to cover a distance of 240 km in less than 5 hours. The formula for calculating the speed of the bus, s is expressed as

Speed, s = distance covered by the bus/ time taken to cover the distance

Therefore,

Speed, s = 240/5 = 48 km/hr

A higher speed would ensure the bus covers the distance in less than 5 hours. Therefore, the inequality that represents the speed (s) of the bus would be

s ≥ 48

When multiplying or dividing integers, if the signs are the same, you keep the sign for the answer

False

True

Answers

Answer:

False

Step-by-step explanation:

If you were to divide a negative number by a negative number, or multiply a negative number by a negative number, you would change the sign to positive as two negatives make a positive.

Answer:

False

Step-by-step explanation:

if you multiply two negative integers, you will get a positive result

For example

(-1) x (-2) = 2   (the sign of the answer is different from the sign of the two negative integers that we multiplied)

Use the graph of the polynomial function to find the factored form of the related
polynomial. Assume it has no constant factor.

A. (x + 2)(x+2)
B. x(x-2)
C. x(x + 2)
D. (x-2)(x + 2)

Answers

Answer:

d

Step-by-step explanation:

the answer would be (x-2)(x+2)

which point is a solution to the inequality shown in this graph? A. (0,-5) B. (-3,0) C. (0,0) D. (5,-5)

Answers

Point (-3, 0) is required solution to the inequality. Hence option B. is correct.

What is inequality?

Inequality can be define as the relation of equation contains the symbol of ( ≤, ≥, <, >) instead of equal sign in an equation.

As from graph,
The inequality can be define as -[tex]y > \frac{4}{3}x+4[/tex]
And the point(-3, 0) lies on the boundary line.
Which gives the solution to the given inequality.

Thus, point (-3, 0) is required solution to the inequality.

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A teacher covered the exterior of a rectangular prism-shaped box that measured 8 inches by 9 inches by 10 inches using one sheet of rectangular-shaped wrapping paper that measured 2 feet by 3 feet. There were no gaps or overlapping paper. How many square inches of wrapping paper were left over? Choose an answer

Answers

Answer:

380 square inches

Step-by-step explanation:

We are given the measurements of the Rectangular Prism as

8 inches by 9 inches by 10 inches

Where based on the order of arrangement:

8 inches = Length

9 inches= Width

10 inches = Height

Step 1

Find the amount of wrapping paper needed

Perimeter = 2L + 2W

= 2 × 8 + 2 ×9

= 16 + 18

= 34 inches

Base = L × W

= 8 × 9

= 72 inches

Surface Area of the Rectangular Prism =PH + 2B

Where P = Perimeter

H = Height

B = Base

= 34 × 10 + 2× 72

= 340 + 144

= 484 square inches

The area of the Rectangular prism = 484 square inches

Step 2

So we were told that she used wrapping paper the measured 2 feet by 3 feet.

We would convert the values in feet to inches

1 ft = 12 inches

Length = 2 ft = 2 × 12 = 24 inches

Width = 3 ft = 3 × 12 = 36 inches

We find the area of the wrapping paper

Length × Width = 24inches × 36 inches = 864 square inches.

Step 3

The amount of square inches of wrapping paper left over is calculated as:

Area of the wrapping paper used - Area of the Rectangular prism

= 864 square inches - 484 square inches

= 380 square inches.

Therefore, the amount of square inches of wrapping paper left over is 380 square inches.

The equations x minus y = 2, x minus 2 y = negative 2, x + y = 2, and x + 2 y = negative 2 are shown on the graph below. On a coordinate plane, there are 4 lines. Green line goes through (0, 2) and (2, 0). Orange line goes through (2, 0) and (0, negative 2). Pink line goes through (2, negative 2), and (0, negative 2). Blue line goes through (0, negative 2) and (2, 2). Which system of equations has a solution of approximately (0.7, –1.4)? x minus y = 2 and x + 2 y = negative 2 x minus 2 y = negative 2 and x + y = 2 x minus y = 2 and x minus 2 y = negative 2 x + y = 2 and x + 2 y = negative 2

Answers

Answer:

  x - y = 2   and   x + 2y = -2

Step-by-step explanation:

Since you have the graph, you can easily see that the point of interest is nearest the intersection of the orange and pink lines.

__

Recognizing that the intercepts of a line in standard form are ...

  ax +by =c

  x-intercept: c/a

  y-intercept: c/b

You can easily determine the corresponding intercepts for the given lines. We can tell from the graph that we only need to know what the y-intercept is in order to match the equation to the line. Here are the y-intercepts:

x -y = 2   ⇒   (0, -2) — orangex -2y = -2   ⇒   (0, 1) — bluex +y = 2   ⇒   (0, 2) — greenx +2y = -2   ⇒   (0, -1) — pink

The system of equations with the desired solution is ...

  x -y = 2  and  x +2y = -2

Answer:

A: x-y= 2 and x+2y= -2

Step-by-step explanation:

I got it right on Edge 2020

Determine the slope of the line that contains the points of (-9,5) and (6,-5)

Answers

Answer:

                 [tex]\bold{m=-\dfrac23}[/tex]

Step-by-step explanation:

[tex]m=\dfrac{y_2-y_1}{x_2-x_1}\\\\(-9,\,5)\ \implies\ x_1=-9\,,\ y_1=5\\(6,\,-5)\ \implies\ x_2=6\,,\ y_2=-5\\\\m=\dfrac{-5-5}{6-(-9)}=\dfrac{-10}{6+9}=-\dfrac{10}{15}=-\dfrac23[/tex]

Find the value of tanθ in the figure below

Answers

Answer:

tanΘ = [tex]\frac{3}{4}[/tex]

Step-by-step explanation:

tanΘ = [tex]\frac{opposite}{adjacent}[/tex] = [tex]\frac{6}{8}[/tex] = [tex]\frac{3}{4}[/tex]

Which graph represents this system? y = one-half x + 3. y = three-halves x minus 1 On a coordinate plane, a line goes through (0, 3) and (4, 5) and another goes through (0, negative 1) and (2, 2). On a coordinate plane, a line goes through (0, 3) and (1, negative 3) and another goes through (0, negative 1) and (3, 1). On a coordinate plane, a line goes through (negative 1, negative 2) and (1, 4) and another goes through (0, 1.5) and (1.5, 0). On a coordinate plane, a line goes through (negative 3, negative 3) and (0, 3) and another goes through (0, negative 1) and (3, 1).

Answers

Answer:

it is A or the first one

Step-by-step explanation:

The graph represents the system y = 1/2x + 3 and y = 3/2x - 1 is the lines and passes by (0, 3) and (4, 5), Option A.


Two equation of lines is  given y = 1/2x + 3 and y = 3/2x - 1.
A graph to be identified showing the coordinate.


What is a Line??

A line can be defined by a shortest distance between two points is called as a line.

Here, slope of equations of lines y = 1/2x + 3 and y = 3/2x - 1 are 1/2 and 3/2 and intercept is 3 and -1 now matching this with option we identified option A contains both the lines and passes by (0, 3) and (4, 5).

Thus, The graph represents the system  y = 1/2x + 3 and y = 3/2x - 1 is the lines and passes by (0, 3) and (4, 5) ,Option A.  

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the diagram shows a partly filled oil tank the depth of oil present in the tank is 1.2m

Answers

Answer:

The quantity of oil in the tank is 12,000 liters

Step-by-step explanation:

Firstly, we find the volume of the tank.

The tank is a cuboid, so we find the volume of a cuboid.

Kindly understand that when finding the volume of the cuboid, we shall not use the height of 3m.

This is because the tank is not full but it is to a height of 1.2m

So mathematically, the volume is calculated as follows;

V = l * b * h

where b = 5m , l = 2m and h = 1.2m

Thus the volume would be ;

V = 5 * 2 * 1.2

V = 12 m^3

But that’s not the quantity of oil.

From the question, 1 cubic meters contains 1000 liters of oil

So 12 cubic meter will contain = 12 * 1000 = 12,000 liters of oil

Answer:

The quantity of oil in the tank is 12,000 liters

Step-by-step explanation:

Firstly, we find the volume of the tank.

The tank is a cuboid, so we find the volume of a cuboid.

Kindly understand that when finding the volume of the cuboid, we shall not use the height of 3m.

This is because the tank is not full but it is to a height of 1.2m

Other Questions
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