Stuart is considering a 3/27 balloon mortgage with an interest rate of 4.4to purchase a house for $268,000. What will be his balloon payment at the end of 3 years?

Answers

Answer 1

Answer:

$ 251,619.37        

Step-by-step explanation:

Given that :

Loan = $ 268,000

Interest rate = 4.4 % per annum

4.4%/12 months =   0.366% per month

[tex]$3/27$[/tex] : [tex]$3$[/tex] years to pay and [tex]27[/tex] years amortization

[tex]27[/tex] years x 12 months = [tex]324[/tex] months

Calculating the amount for he monthly amortization,

[tex]$A=P \times \frac{r(1+r)^n}{(1+r)^n-1}$[/tex]

[tex]$A=268,000 \times \frac{0.00366(1+0.0366)^{324}}{(1+0.00366)^{324}-1}$[/tex]

[tex]$A=268,000 \times \frac{0.0119}{2.266}$[/tex]

A = 1407.41

Therefore, the future value is given by :

[tex]$FV=PV(1+r)^n-P\left[\frac{(1+r)^n-1}{r}\right]$[/tex]

where, FV = future value ( balloon balance)

            PV = present value (original balance)

            P = payment

            r = rate per payment

            n = number of payments

[tex]$FV=268,000(1+0.00366)^{36}-1407.41\left[\frac{(1+0.00366)^{36}-1}{0.00366}\right]$[/tex]

[tex]$FV = 305670.10- 54050.73 $[/tex]

FV = 251619.37

Therefore, Stuart's balloon payment will be $ 251,619.37


Related Questions

Soit trois nombres consécutifs. Lorsque l’on soustrait le double du deuxième nombre du quadruple du
premier nombre on obtient le triple du troisième nombre moins 15. Détermine quels sont ces nombres.

Answers

Answer:

Les trois nombres sont 5, 6 et 7.

Step-by-step explanation:

Soit x le premier nombre.

x + 1 sera le second et x + 2 sera le troisième.

On pose l'équation :

2x + 3(x + 1) = 4(x + 2)

2x + 3x + 3 = 4x + 8

5x - 4x = 8 - 3

x = 5

i hope u can help meeeee!!!​

Answers

Answer:

1)4,5,8

2)3,6,7

3)1 and2,5 and 6,3 and 4,7 and 8,1 and6,3and 8,2 and5,4 and 7

Matthew purchased a desk that was on
sale for 45% off the original price of
$480. If the sales tax was 8% (of the
sale price), how much did Matthew
spend on the desk?

Answers

Answer:

ANSWER :

285.12

discount amount =45/00 x 480=45 x 48/10

=216.0

price of discount =480-216=264

salex tex 8/100 x 264. =21.12

total many of spend 264+21.12=285.12

Solve each by elimination
4x - y = 105
x + 7y = -10

Answers

Answer:

point form:

(25, -5)

Equation form:

x= 25, y= -5

heyy! i’ll give brainliest please help.

Answers

Answer: A/ Polar Regions

Step-by-step explanation:

I'm sure of it.

Manual is cooking dinner for his family of four. The recipe he is using makes dinner for six people. The recipe calls for three cups of flour. How many cups of flour should Manuel use to make the recipe for four people?

1. 1 cup

2. 2 cups

3. 7 cups

4. 8 cups

Answers

2 cups ur welcome because half a cup is for 1 person so 2 cups is for 4 people

What Expressions are equivalent to ....

Answers

The answer should be C

I think it is C

Step-by-step explanation:

I really dont know

Please help, sorry the image is blurry I retook it multiple times.

Answers

Answer:

i dont really know for sure, but try P (-8, 6) Q (-5, 2) and R (2, 1) sorry if its wrong

Step-by-step explanation:

Please help if you know the answer please!!!

Answers

Answer:

20

Step-by-step explanation:

The figure can be broken up into 4 congruent right triangles

with sides of 3  and 4.

Which makes a classic 3-4-5 right triangle

The 5 side is on the perimater

4 * 5 = 20

0.2x + 0.3 = 0.1x + 0.5

Answers

Answer:

x = 2

Step-by-step explanation:

0.2x + 0.3 = 0.1x + 0.5 ( subtract 0.1x from both sides )

0.1x + 0.3 = 0.5 ( subtract 0.3 from both sides )

0.1x = 0.2 ( divide both sides by 0.1 )

x = 2

Answer. X will be 2

Can anyone help a fellow out ?

Answers

cos(44°) = 90/ x
x = 125.1147
-
the length of the string is 125.1147 feet

Please help me solve this 5/3x²-x-2 +5/3x²-x-1 =7/3x²-x-3​

Answers

Answer:

can you take a photo of the equation? and do you just want to evaluate?

PLEASE HELP ME FAST WILL GIVE POINTS AND BRAINLIEST

Answers

Answer:

x = 289 degrees

Step-by-step explanation:

The sum of angle measures in a hexagon is 720 degrees. One can apply this information here, by forming an equation. Add up all of the angle measures, including parameter (x), simplify and use inverse operations to solve for the numerical value of the parameter (x).

100 + 102 + 108 + 121 + x = 720

Simplify,

431 + x = 720

Inverse operations,

431 + x = 720

-431        -431

x = 289

Box A has a volume of 24 cubic meters. Box B is similar to Box A. To create Box B, Box A's dimensions were multiplied by 4. What is the volume of Box B?

Answers

Answer: [tex]1536\ m^3[/tex]

Step-by-step explanation:

Given

Box A has a volume of [tex]24\ m^3[/tex]

Box B is similar to box A such that box A dimension is multiplied by 4 to get the box B

So, each length is 4 times the box A and volume is the cube of the side.

Thus, the volume of box B is [tex]4\times 4\times 4[/tex] the volume of box A

The volume of box B is  

[tex]=4\times 4\times 4\times 24\\=1536\ m^3[/tex]

hii i’ll give brainliest please help thanks :)

Answers

Answer:

3,6,9

Step-by-step explanation:

123 456 789

Answer:

85

Step-by-step explanation:

hi plz mark brainlist

2) Sandy empties 21 cookies into a jar. Twelve were vanilla-flavored and 9 were
chocolate-flavored. What fraction of cookies were vanilla- flavored?

Answers

Answer:

4/7

Step-by-step explanation:

12 vanilla / 21 total

12/21 = 4/7 (divide both sides by 3)

Answer:

3/7

Step-by-step explanation:

9 / 21 = 3/ 7

7 1/2 divided by 3/4 equals?

Answers

Answer:

The answer is 9 3/5

I hope this helps :)

.....................

Which graph represents 9x2 – 16y2 – 54x + 64y – 127 = 0?

Answers

Answer:

Right now I'm wondering what kind of class you are taking to get such a weird graph, but I graphed it for you on the screenie.

Step-by-step explanation:

You should though recheck your question for exponents, as 9x2 could be interpreted differently.

Since exponents to not transition well here, I can assume that it was a 9x^2, so please add an exponent symbol ^ between the variables and exponents next time.

Answer:

its C

Step-by-step explanation:got it right edge2022

r/3 - 9 ≥ - 2

pls show steps and answer

i’ll mark brainlyest

Answers

Answer:

r ≥ 20

Step-by-step explanation:

r/3 - 9 ≥ - 2

r/3 ≥ 7

Multiply both sides by 3

r ≥ 21

Answer: Good deal

Step-by-step explanation:

r/3-9≥2

r ≥ 20

r/3 - 9 ≥ - 2

r/3 ≥ 7

3 r ≥ 20

What is the distance between parallel lines whose equations are y = 2x + 7 and y = 2x – 3?

Answers

Answer:

The distance is [tex]\sqrt{20}[/tex] or [tex]2\sqrt{5}[/tex].

Step-by-step explanation:

Slope of parallel: 2

Slope of perpendicular: -1/2

Pick a point for y =2x + 7. For example (0,7)

Use the perpendicular slope to get to the other line to find the other point of y=2x-3. Look at the screenshot...I got (4,5).

Distance formula [tex]\sqrt{(x_{2}-x_{1} )^{2}+(y_{2} -y_{1})^2 }[/tex]

Insert (0,7) and (4,5)

[tex]\sqrt{(0-4)^{2}+(7-5)^2 }[/tex] = [tex]\sqrt{(-4)^{2}+(2)^2 } = \sqrt{(16)+(4)} } = \sqrt{20} = 2\sqrt{5}[/tex]

The distance between parallel lines whose equations are y = 2x + 7 and y = 2x – 3 is [tex]2\sqrt{5}[/tex] and can be determined by using the point-slope form and also by using the distance formula.

Given :

y = 2x + 7y = 2x - 3

First, determine the line perpendicular to the line (y = 2x + 7) whosw slope is -1/2 and intersect the line (y = 2x + 7) at point (0,7).

Using the point-slope, the equation of the perpendicular line can be determined.

[tex](y-y_1)=m(x-x_1)[/tex]    ---- (1)

where m is the slope and [tex](x_1,y_1)[/tex] is the point on the line.

Now, put the value of known terms in the equation (1).

[tex]y-7=-\dfrac{1}{2}(x-0)[/tex]

y = -0.5x + 7   --- (2)

Now, determine the point of intersection between lines (y = -0.5x + 7) and (y = 2x -3).

Substitute the value of y that is (y = 2x - 3) in equation (y = -0.5x + 7).

2x - 3 = -0.5x + 7

2.5x = 10

x = 4

Now, put the value of x in the equation (y = -0.5x + 7).

y = -0.5(4) + 7

y = 5

Now, the distance between two points is given by the equation:

[tex]\rm D = \sqrt{(x_2-x_1)^2+(y_2-y_1)^2}[/tex]

[tex]\rm D = \sqrt{(0-4)^2+(7-5)^2}[/tex]

[tex]\rm D = \sqrt{20}[/tex]

[tex]\rm D = 2\sqrt{5}[/tex]

The distance between parallel lines whose equations are y = 2x + 7 and y = 2x – 3 is [tex]2\sqrt{5}[/tex].

For more information, refer to the link given below:

https://brainly.com/question/19707745

A playground has two sides that each measure 70 feet and two sides that each measure 50 foot. Select all the quadrilaterals that describe the shape
of a playground with these dimensions.
The last one is trapezoid

Answers

Answer:

Rectangle

Step-by-step explanation:

Would any three squares
form the sides of a right
triangle? Explain.

Answers

The sum of the areas would be two small squares so no

Three squares of sides 15 units, 9 units, and 12 units can form a

right-angled triangle.

What is a triangle?

A triangle is a three-sided closed-plane figure formed by joining three noncolinear points. Based on the side property triangles are of three types they are Equilateral triangle, Scalene triangle, and Isosceles triangle.

Given, We have to form a right-angled triangle that has side lengths of

3 different squares.

Let, The first square has a side length of 9 units, and let this be the height of the right-angled triangle.

Another square has a side length of 15 units and this is the hypotenuse.

Therefore, the base of the triangle must be 15² - 9² = 225 - 81 = 144 = 12 units.

So, The third square must have a side length of 12 units.

learn more about triangles here :

https://brainly.com/question/29083884

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PLZ HELP ME PLZ PLZ I’LL MARK AS BRAINLIESTT!!

Answers

Answer:

$0.35

Step-by-step explanation:

16.25/1.25=13

4.55/13=0.35

(-2-√3) (-2+√3) when simplified is​

Answers

Answer:

=1

Step-by-step explanation:

(-2-√3)(-2+√3)

=-2(-2+√3)-√3(-2+√3)

=4-2√3+2√3-√9

=4-3

=1

What is the surface area of the cylinder with height 2 yd and radius 3 yd? Round your answer to the nearest thousandth.

Answers

Given :

height (h) = 2 yd

radius (r) = 3 yd

Solution :

[tex] \boxed{ \mathrm{Surface \: Area = 2\pi r(h +r )}}[/tex]

[tex]2 \times 3.14 \times 3 \times (3 + 2)[/tex]

[tex]18.84 \times 5[/tex]

[tex] \boxed{\mathrm{94.2 \: yd {}^{2} }}[/tex]

_____________________________

[tex]\mathrm{ \#TeeNForeveR}[/tex]

!!HELP PLEASE NO LINKS!!Select the graph of y = 3 sin ⁡(x+ pi/4)

Answers

Answer:

A

Step-by-step explanation:

Just graph it

The answer to this question is A

resuelve la siguiente ecuación trigonométrica 2Sena-√3=0

Answers

resuelve la siguiente ecuación trigonométrica 2Sena-√3=0

Which of these equations is eqavalent to 1/2x and 2/3y=5

Answers

Answer:

1.12

Step-by-step explanation:

the guy above me is right 1.12

The difference of twice a number and 10 is less than 22

Answers

2(n-10)≤ 28 or n ≤ 24

Answer:

2x-10≤22

Step-by-step explanation:

2x≤22+10=32

x≤16

In ΔPQR, \overline{PR} PR is extended through point R to point S, \text{m}\angle PQR = (2x+6)^{\circ}m∠PQR=(2x+6) ∘ , \text{m}\angle RPQ = (x-7)^{\circ}m∠RPQ=(x−7) ∘ , and \text{m}\angle QRS = (5x-17)^{\circ}m∠QRS=(5x−17) ∘ . What is the value of x?x?

Answers

The value of x according to the given information is 8

Sum of interior angle

The sum of interior angle of a triangle is equal to the exterior

Given the following

interior angles = PQR=(2x+6)  and ∠RPQ=(x−7)

exterior = m∠QRS=(5x−17)

According to the theorem

5x -17 = 2x+6+ x - 7

5x - 17 = 3x - 1

5x-3x = -1 + 17

2x = 16

x =8

Hence the value of x according to the given information is 8

Learn more on exterior angle theorem here; https://brainly.com/question/11900288

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