Mr. Schnee is refinancing his home. His loan officer has presented him with the following two offers; it is worth noting that Mr. Schnee is expecting to move back home to Michigan in five years. Using a system of linear equations, help Mr. Schnee decide which offer to take in order to maximize his benefit. Mr. Schnee has already determined that he definitely wants to refinance as he is currently paying $1,744.67.

4.5% Interest Rate for 30 years with a monthly payment of $1,266.71 with $256 Closing Costs
4.0% Interest Rate for 30 years with a monthly payment of $1,193.54 with $10,362 in Closing Costs

Answers

Answer 1

The option that best suits him is 4.0% Interest Rate for 30 years with a monthly payment of $ 1,193.54 with $ 10,362 in Closing Costs.

Given that Mr. Schnee is refinancing his home, and his loan officer has presented him with two offers, to determine which offer should he take in order to maximize his benefit, the following calculation must be performed:

A) 4.5% Interest Rate for 30 years with a monthly payment of $ 1,266.71 with $ 256 Closing Costs

1,266.71 x 30 x 12 + 256 = X

1,266.71 x 360 + 256 = X

456,015.60 + 256 = X

456,271.60 = X

B)4.0% Interest Rate for 30 years with a monthly payment of $ 1,193.54 with $ 10,362 in Closing Costs

1,193.54 x 30 x 12 + 10,362 = X

1,193.54 x 360 + 10,362 = X

429,674.40 + 10,362 = X

440,036.40 = X

Therefore, the option that best suits him is 4.0% Interest Rate for 30 years with a monthly payment of $ 1,193.54 with $ 10,362 in Closing Costs.

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Related Questions

3a+5=20 steps on paper

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Answer:

5

Step-by-step explanation:

3a+5=20 -5

3a=15 /3

a=5

a. Morning rain showers dropped 1/3 of an inch of rain. Later that day, another storm passed through and dropped 1/8 inch of rain. How much more rain fell in the morning than in the afternoon?

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Answer: 5in

Step-by-step explanation:

1/3x8/8=8/24

1/8x3/3=3/24

8-3=5

is -74.58 an integer

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yes it is. goodluck!

7 x [(7 + 7) = 7
Help plz

Answers

Answer:

[tex] \frac{1}{14} [/tex]

Step-by-step explanation:

7 x (7+7)=7

7x [(14)]=7

x=

[tex] x = \frac{1}{14} [/tex]

(GIVING BRAINLIEST AND EXTRA POINTS) A multiplication expression with a product of 108,064 is shown below. What is the missing digit?



2
3
4
5

Answers

Answer: The missing digit is 2.

Step-by-step explanation:

4,912*22= 108,064

Marcus sleeps 60 hours a week this is 5 times as many hours as he plays chess. How many hours a week does Marcus play chess?

Answers

Answer: 12 hours a week

Step-by-step explanation:

60/5 = 12

Since he plays chess 5 times the amount of time he sleeps, simply divide the amount of time he sleeps by 5.

Correct me if I am incorrect.

What is the equation of this graphed line?



Enter your answer in slope-intercept form in the box.

Answers

Answer is highlighted in blue. If you have any questions feel free to ask.
We can find the slow by using the formula y2-y1/x2-x1. We have (-4, -6) and (2, 6). 6+6/2+4 is 12/6 which is 2. We need to put this into point slope form before putting this into slope-intercept form.

I will use the coordinates (2, 6).

y - 6 = 2(x - 2)

This gives us y - 6 = 2x - 4. We need to isolate y. This gives us y = 2x + 2.

I decided to use point slope form because it looks like the y-intercept is 2 and something tenths. However, the line is just off.

The answer is: y = 2x + 2

Help fast !!! I have like 5 minutes left

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Answer:

y-intercept = (0,3)

Step-by-step explanation:

florida sales tax is 7%. How much money comes out of your pocket if u buy something for $100

Answers

Answer:

$7

Step-by-step explanation:

If you use "Is over of" the equation will be ?/100*7/100, therefore after simplifying your answer is $7

Brainliest would be appreciated! :-)

The answer you are looking for the Florida tax for $100 is 7$

Solve the inequality and graph the solution.
j/4>2

Answers

Answer:

J=8

Step-by-step explanation:

Multiply 4 by 2 and then you get 8 and 8/4 is 2 so J = 8

sorry if im incorect

After the elves had hung 25% of the ornaments on the North Pole tree, there
were 480 more ornaments to hang. How many ornaments were in the box to
begin with?

Answers

Answer:

640

Step-by-step explanation:

x = total amount of ornaments

480 = 0.75x

(480 is 7 percent of the ornaments after you hang 2 percent of them)

x = 640

help pls and thank you​

Answers

Answer:

A. $10

Step-by-step explanation:

They make $10 profit an hour.

Select the best estimate for the quotient.75.1÷9=

Answers

Answer:

8.3 44444 is the answer

Step-by-step explanation:

PLEASE HELP I WILL MARK YOU BRAINLEST!!!
please read the question on the photo and these are the choices bellow!!

A-translation, reflection
B- rotation, reflection
C-reflection, rotation
D-rotation, translation

Answers

Answer:

D.

Step-by-step explanation:

A fair coin is tossed (heads or tails) 9 times. What is the probability that the coin will land “heads” exactly 3 out of the 9 times?

Answers

Answer:

Step-by-step explanation:

The total number of tosses is 9

The number of successes is 3

P(heads 3 times ) = 3/9

P(heads 3 times) = 1/3

Please help!! Thank you!!!!

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Answer:

total cost = 10 • months + 100

Step-by-step explanation:

The $100 application fee is extra, only needed to pay once. The $10 per month is multiplication. $10 • the number of months.

Sec one on your computer

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Given the function, f(x) = x2 + 5x - 3 evaluate f(-2).

Answers

Answer:

f(- 2) = - 9

Step-by-step explanation:

Substitute x = - 2 into f(x) , that is

f(- 2) = (- 2)² + 5(- 2) - 3 = 4 - 10 - 3 = 4 - 13 = - 9

The sum of the first 15 terms of a geometric sequence with 7 as the first term and a common ratio of -3 is __________.

Answers

Step-by-step explanation:

the formula for the sum of the first n terms of a geometric sequence is

Sn = s1(1 - r^n)/(1 - r)

with r being the common ratio and s1 is the first term.

so,

S15 = 7×(1 - (-3)¹⁵)/(1 - -3) = 7×(1 - -14,348,907)/4 =

= 7×14,348,908/4 = 7×3,587,227 = 25,110,589

A researcher at the Centers for Disease Control and Prevention is studying the growth of a certain bacteria. He starts his experiment with 200 bacteria that grow at a rate of 2% per hour. He will check on the bacteria every 7 hours. How many bacteria will he find in 7 hours? Round your answer to the nearest whole number.

Answers

The population of the bacteria after 7 hours is 230 bacteria.

An exponential function is given by:

y = abˣ

where y, x are variables, a is the initial value of y and b is the multiplier.

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b = 100% + 2% = 1.02

The exponential equation becomes:

y = 200(1.02)ˣ

After 7 hours:

y = 200(1.02)⁷ = 230

The population of the bacteria after 7 hours is 230 bacteria.

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Bob purchased 2 hot dogs and 1 hamburger for S10. Later that day, Bob had to purchase more food and
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Answers

Answer:

Hotdog: $3.00

Hamburger: $4.00

Step-by-step explanation:

For the first time that Bob buys food, we can make an equation to find how much a single hotdog and a single hamburger costs, where:

x = cost of a hotdog

y = cost of a hamburger

He bought 2 hotdogs and 1 hamburger for $10, so the equation for his first time buying food is:

2x + y = 10

For the second time buying food, he bought 1 hotdog and 3 hamburgers for $15, so his equation would be:

x + 3y = 15

To find the value for x and y we need to solve this system of equations using the two equations we just came up with. We can do this multiple ways, but I'll be demonstrating the substitution method.

Using the second equation, we can solve for x by simply subtracting 3y from both sides:

x = 15 - 3y

We can then insert this value of x into the first equation so that way we are only dealing with one variable to solve - y:

2(15-3y) + y = 10

Distribute out the 2 into the paratheses, combine like terms, and then solve for y:

30 - 6y + y = 10

30 - 5y = 10

-5y = -20

y = 4

This means the cost for one hamburger is $4. But we still need to find the price of one hotdog, so we can insert this value of y into the equation we came up with earlier for x, and then solve for x:

x = 15 - 3y

x = 15 - 3(4)

x = 15 - 12

x = 3

So the price of one hotdog is $3 and the price of one hamburger is $4. Hope this helps.

I need help on this question

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Answer:

Go download CameraMath on playstore

Help me with these worksheets pls

Anything would help BUT PLS ANSWER IT CORRECTLY, If you don't know, just IGNORE THIS AND DON'T JUST COME FOR THE POINTS.

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Answer:

1. yes

2.no

3.yes

4.no

5.yes

What is log Subscript 5 Baseline (4 times 7) + log Subscript 5 Baseline 2 written as a single log?

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log5(4*7)+log5(2)=log5(28)+log5(2)=log5(56)

Answer:

Its D

Step-by-step explanation:

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in 2011 i sold 105276 tickets.
This is 7% less then the number of tickets i sold in 2018.

How many tickets i sell in 2018?

And

Show a check of your answer.

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Answer:

sorry I don't know the answer of this

The roots of the function f(x) = x2 – 2x – 3 are shown. What is the missing number?

x = –1 and x =

Answers

Answer:

x=3

Step-by-step explanation:

factoring

set to 0

Please help me understand how I would pick the correct formula for step 1 for the question in the image? I am really confused.

Answers

Answer:

The first option

Step-by-step explanation:

We are doing height above shadow height. Since the telephone poll is 40 feet high with a 32 feet shadow, it is 40/32. We know the sign casts a 12 1/2 shadow, so this will be our denominator. h is our unknown, so we will have h / 12 and a half as our second fraction for our ratio.

Have a nice day!

     I hope this is what you are looking for, but if not - comment! I will edit and update my answer accordingly. (ノ^∇^)

- Heather

Consider the sequence: -7, -2, 3, 8…. What is f(7)?

Answers

You are adding by 5 in the sequence.
If f(1) is -7
f(2) = -2
f(3)= 3
f(4)=8
f(5)=13
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6:4 is equivalentto blank:24

Answers

24/4=6 so we must do 6x6=36. The final answer is 36:24

The diameter of a circle fits around the circle ______ times.

Answers

Answer:

it fits around [tex]\pi[/tex] times which is approximately 3 times

Step-by-step explanation:

[tex]\pi[/tex]

Pls help my child has no clue and this math is too hard for me to understand!!

Answers

Answer: 160

Step-by-step explanation: The questions says that there are 144 which make up 90% of the total group.

What is the other 10%? To figure this out, we can set up a proportion which we can do in the following way:

144/t = 90/100

From here, you can cross multiply 144 x 100 = 14,400

90t = 14,400

t= 160

You can always check by plugging 160 into t to make sure the proportion is equal. I picked t as my varriable of choice which stands for team members. But you can pick an varriable (letter) to find an unknown.

In practice, is best that your child uses a calculator because in the real world, its a practical handy tool and one doesn't have time to memorize every detail by doing that long division. Once your child gets the hang of practicing setting up proportions, your child can solve a variety of problems without going back in circles.

Hope this explanation helps. Best of luck to you and your child.

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