Solve for b. Thank you

445 .                       Answer:

Step-by-step explanation:

Answer:

The mortgage chosen is option A;

15-year mortgage term with a 3% interest rate because it has the lowest total amount paid over the loan term of $270,470

Step-by-step explanation:

The details of the home purchase are;

The price of the home = $275,000

The mode of purchase of the home = Mortgage

The percentage of the loan amount payed as down payment = 20%

The amount used as down payment for the loan = $55,000

The principal of the mortgage borrowed, P = The price of the house - The down payment

∴ P = $275,000 - 20/100 × $275,000 = $275,000 - $55,000 = $220,000

The principal of the mortgage, P = $220,000

The formula for the total amount paid which is the cost of the loan is given as follows;

[tex]Outstanding \ Loan \ Balance = \dfrac{P \cdot \left[\left(1+\dfrac{r}{12} \right)^n - \left(1+\dfrac{r}{12} \right)^m \right] }{1 - \left(1+\dfrac{r}{12} \right)^n }[/tex]

The formula for monthly payment on a mortgage, 'M', is given as follows;

[tex]M = \dfrac{P \cdot \left(\dfrac{r}{12} \right) \cdot \left(1+\dfrac{r}{12} \right)^n }{\left(1+\dfrac{r}{12} \right)^n - 1}[/tex]

A. When the mortgage term, t = 15-years,

The interest rate, r = 3%

The number of months over which the loan is payed, n = 12·t

∴ n = 12 months/year × 15 years = 180 months

n = 180 months

The monthly payment, 'M', is given as follows;

M =

The total amount paid over the loan term = Cost of the mortgage

Therefore, we have;

220,000*0.05/12*((1 + 0.05/12)^360/( (1 + 0.05/12)^(360) - 1)

[tex]M = \dfrac{220,000 \cdot \left(\dfrac{0.03}{12} \right) \cdot \left(1+\dfrac{0.03}{12} \right)^{180} }{\left(1+\dfrac{0.03}{12} \right)^{180} - 1} \approx 1,519.28[/tex]

The minimum monthly payment for the loan, M ≈ $1,519.28

The total amount paid over loan term, A = n × M

∴ A ≈ 180 × $1,519.28 = $273,470

The total amount paid over loan term, A ≈ $270,470

B. When t = 20 year and r = 6%, we have;

n = 12 × 20 = 240

[tex]\therefore M = \dfrac{220,000 \cdot \left(\dfrac{0.06}{12} \right) \cdot \left(1+\dfrac{0.06}{12} \right)^{240} }{\left(1+\dfrac{0.06}{12} \right)^{240} - 1} \approx 1,576.15[/tex]

The total amount paid over loan term, A = 240 × $1,576.15 ≈ $378.276

The monthly payment, M = $1,576.15

C. When t = 30 year and r = 5%, we have;

n = 12 × 30 = 360

[tex]\therefore M = \dfrac{220,000 \cdot \left(\dfrac{0.05}{12} \right) \cdot \left(1+\dfrac{0.05}{12} \right)^{360} }{\left(1+\dfrac{0.05}{12} \right)^{360} - 1} \approx 1,181.01[/tex]

The total amount paid over loan term, A = 360 × $1,181.01 ≈ $425,163

The monthly payment, M ≈ $1,181.01

The mortgage to be chosen is the mortgage with the least total amount paid over the loan term so as to reduce the liability

Therefore;

The mortgage chosen is option A which is a 15-year mortgage term with a 3% interest rate;

The total amount paid over the loan term = $270,470

Answer:

there is nothing here but thanks for the points

Step-by-step explanation:

Have a great rest of your day/night!

Answer:

$145.38

Step-by-step explanation:

436.14-(1/3)(436.14)-(1/2)(436.14) = 145.38

The amount of money that Katherine left after considering all fractions will be $145.38.

In such a fraction, the value that appears above the horizontal line is referred to as the numerator.

The denominator of a fraction is the numerical value that comes before the brings together various.

It represents the number of pieces removed from the whole.

As per the given,

Initial amount = $436.14

1/3 of it is = (1/3)436.14 = $145.38

Since, she saved into a saving account so she left with,

$436.14 - $145.38 = $290.76

Now,1/2 of it will be,

(1/2)290.76 = $145.38.

Hence "The amount of money that Katherine left after considering all fractions will be $145.38".

For more about fractions,

https://brainly.com/question/10354322

#SPJ2

Answer:

its 324

Step-by-step explanation:

Answer:

8.38

Step-by-step explanation:

The underlined number is in the hundredths place, so that means that we're going to round there. That means that you look at the number to its right and if it's lower than 5, it stays the same. However, if it's 5 or higher, you round it up. For example, if the number was 8.386, we would round it to 8.39.

Answer:

y = -8

Step-by-step explanation:

2x2 - 12

4 - 12 = -8

hope this helps

Answer:

The correct answer is B: Count by hand and D: Divide 20 by 2

Step-by-step explanation:

I just got it correct.

Answer:

I personally find it easier to put my equation in words before actually writing the equation, so for this particular situation, the equation would sound like this :

→ The cost (C) is equal to 45$ a day (d) plus 25$!

Now that your equation is put into words, all that you have to do is write down the equation without the words :

→ C = (45d) + 25

If you want to make sure that your equation is correct, you can try it out, say for instance you want to rent a car for a week, so for a total of 7 days, and you want to see how much it would cost :

d = 7 (in this particular situation)

C = (45 × 7) +25

↓

C = 315 + 25

↓

C = 340

→ So it would cost 340$ to rent a car for a week!

credit goes to naomi479xx for solving this answer.

Answer:

I read the title wrong, please remove my answer

Step-by-step explanation:

9514 1404 393

Answer:

  5 seconds

Step-by-step explanation:

Suppose the front parts of the trains meet at point A. Since both are the same length and traveling the same speed, each will pass point A in time ...

  time = distance/speed

  time = (1/18 mi)/(40 mi/h) = (1/720 h) × (3600 s)/(1 h) = 5 s

That is, the rear part of each train will be at point A 5 seconds after the front part.

The rear parts will pass each other 5 seconds after the front parts meet.

4x+1=6x-29

vvvvvvvvvv

-2x=-30

x=-15

4 x -15= -60

angle 3 =59 degrees

angle 6= 119 degrees

Answer:

29

Step-by-step explanation:

In a triangle, a^2 + b^2 = c^2 where a and b are the legs and c is the hypotenuse

Given this formula, we knoe c^2 is the product of 21^2 + 20^2.

This gives you 841. Now you just find the square root of 841 which is 29.

Hope this helps :)

Answer:

its 4,000

Step-by-step explanation:

Answer:

it should be 628.32 I'm not sure if I'm correct

Answer:

natasha paid the least amount

Hey there!

-3(c+2)+d(c+5)

All you have to do is DISTRIBUTE

-3(c) + (-3)(2) + d(c) + d(5)

-3c - 6 + cd + 5d

SOLVE ABOVE and you have your ANSWER

Answer: cd - 3c + 5d - 6

Good luck on your assignment and enjoy your day!

~Amphitrite1040:)

Answer:

A.

Step-by-step explanation:

Answer:

$89.90

Step-by-step explanation:

38% corresponds to the decimal fraction 0.38.  

The amount of the discount is 0.38($145), or $55.10.  Subtracting this amount from the regular price yields $145 - $55.10 = $89.90.

A faster way of doing this problem is to subtract 0.38 from 1.00, obtaining 0.62, and then multiplying $145 by this 0.62:  $89.90.

Answer:

29045.86.

Step-by-step explanation:

Total  = 25000e^(5*0.03) = 29045.86

Answer:

the answer would be 32 then. you start with 7 then add 1 then Multiple by 4 which equals 32

Answer: 7.44

Step-by-step explanation: DeltaMath

Answer:

1001.35

Step-by-step explanation:

Assuming  

n

=

5

for which sum to be found.

We know sum of geometric series up to  

n

th term is

S

n

=

a

1

⋅

r

n

−

1

r

−

1

Here  

a

1

=

0.11

,

r

=

9.5

,

n

=

5

∴

S

5

=

a

1

⋅

r

5

−

1

r

−

1

=

0.11

⋅

9.5

5

−

1

9.5

−

1

≈

1001.35

[Ans]

Answer:

The answer is 2

Step-by-step explanation:

First you need to calculate how far away each data point is from the mean using positive distances. These are called absolute deviations. All of the points add up to 10. Then you divide that number by how many points there are which is 5 and you get 2.

Hope that helps. =)

Answer:

the answer is 2

Step-by-step explanation:

hoped I helped

Answer:i tihnk football is .45 and tennis is .18?

Step-by-step explanation:

i dont know if this is right but im pretty sure it is

Answer:

area = 24 cm²

Step-by-step explanation:

area = 1/2 x 6 x 8 = 24 cm²

Answer:

1/2

Step-by-step explanation:

y = mx + b is slope intercept form.

b = y intercept. where the line first passes through on the y axis

that number is 3.

y = mx + 3.

to find M (slope) you have to do RISE / RUN.

Run is going left or right from a point

Rise is going up or down from a point.

To make sure you find the slope, when you Rise and Run, it has to hit another point on the graph.

From the y - intercept 3, RISE (go up) 1 and RUN (go left) 2.

So, the slope is 1/2.

Answer:5.83

Step-by-step explanation: