You can afford a $800 per month mortgage payment. You've found a 30 year loan at 7% interest.
a) How big of a loan can you afford?
$
b) How much total money will you pay the loan company?
c) How much of that money is interest?

Answers

Answer 1

a) You can afford a loan of approximately $96,927.88.

b) You will pay a total of $288,000 to the loan company.

c) Approximately $191,072.12 of that money is interest.

To determine how big of a loan you can afford, we can use the formula for the monthly mortgage payment:

M = P * (r(1+r)^n) / ((1+r)^n - 1)

Where M is the monthly mortgage payment, P is the loan principal, r is the monthly interest rate (annual interest rate divided by 12), and n is the total number of payments (number of years multiplied by 12).

a) First, we need to calculate the monthly interest rate and the total number of payments:

Monthly interest rate = 7% / 12 = 0.07 / 12 = 0.00583

Total number of payments = 30 years * 12 months/year = 360

Now we can plug in the values into the formula:

800 = P * (0.00583 * (1+0.00583)^360) / ((1+0.00583)^360 - 1)

To solve for P, we can rearrange the equation:

P = 800 * ((1+0.00583)^360 - 1) / (0.00583 * (1+0.00583)^360)

Using a calculator, we find that P is approximately $96,927.88.

b) To calculate the total money paid to the loan company, we multiply the monthly payment by the total number of payments:

Total money paid = $800 * 360 = $288,000

c) To determine how much of that money is interest, we subtract the loan principal from the total money paid:

Interest = Total money paid - Loan principal

Interest = $288,000 - $96,927.88

Interest = $191,072.12

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Related Questions

Beth filled 64 bottles of water. If each bottle holds 1 pint of paint, how many gallons of water does Beth have?

Answers

Answer:

8 gallons

Step-by-step explanation:

To answer this question :

convert pint to gallons multiply the value gotten in the above step by the total number of bottles

1 PINT = 0.125 Gallons

1 x 0.125 = 0.125

total gallons of water = 64 x 0.125 = 8 gallons

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

Answers

Answer:

its 65. bcuz you add it all together

Step-by-step explanation:

question on the picture

Answers

B) 48/73
hope this helps

The second term of a sequence is 12 and the common ratio is 2. Which equation gives the nth term of the sequence?

Answers

Answer:

        The last:  [tex]\bold{f(x) = 6(2)^{x-1}}[/tex]

Step-by-step explanation:

Its a geometric sequence: aₙ = a₁ rⁿ⁻¹

f(x) = aₙ

a₁ = a₂÷r = 12÷2 = 6

r = 2

x = n

Therefore:

               [tex]f(x) = 6(2)^{x-1}[/tex]

I need help with this!

Answers

Answer:

Step-by-step explanation:

What is the question?

PLSSS HELP WITH THIS IMMEDIATELY!!! i’ll give brainiest if u don’t give a link back. pls help tho and don’t skip i really need to hurry!!

Answers

Answer:

(3,5)

Step-by-step explanation:

They both start (2,2)

2+1 = 3,

2+3 = 5

(3,5)

I think 3,5, but im not sure

Please answer correctly

Answers

triangle NPQ= 35º

i hope this helps!!

Please please please help!

Answers

Answer:

6 pounds

Step-by-step explanation:

every 16 ounces =1 pound

so 96/16 = 6

6 *1 = 6

therefour 6 pounds

Multiply the 2nd equation by -4. What value belongs in the green box?

Answers

it would be -12x, 3x(-4) = -12x.

decide if these are equivalent ratios by simplifying. 12/27 and 20/36​

Answers

Answer:

they are not equivalent

Step-by-step explanation:

12/27 reduces to 4/9 if you divide by 3

20/36 reduces to 5/9 if you divide by 4

4/9 ≠ 5/9

Step-by-step explanation:

Get your answer by reducing them:

12/27=4/9 ( in the table of 3)

20/36=5/9 ( in the table of 4)

hope it helps

A board game uses a fair six-sided die and a spinner with five equal-sized sections colored dark blue, green, light blue, red, and yellow. Players roll the die and then spin the spinner. Match each probability statement to its correct value. the probability of getting a 6 and any color except a shade of blue the probability of getting a 5 and a shade of blue the probability of getting an even number and a shade of blue the probability of getting at least 3 and any color except a shade of blue the probability of a getting at most 4 and yellow

Answers

The probability of getting a 6 and any color except a shade of blue is 2/15.

The probability of getting a 5 and a shade of blue is 1/30.

The probability of getting an even number and a shade of blue is 1/10.

The probability of getting at least 3 and any color except a shade of blue is 4/15.

The probability of getting at most 4 and yellow is 2/15.

We have,

The probability of getting a 6 and any color except a shade of blue:

This probability involves rolling a 6 on the die and getting any color except a shade of blue on the spinner.

Since the die has six equally likely outcomes and the spinner has four colors that are not shades of blue, the probability is (1/6) x (4/5) = 2/15.

The probability of getting a 5 and a shade of blue:

This probability involves rolling a 5 on the die and getting a shade of blue on the spinner.

Since the die has six equally likely outcomes and the spinner has one shade of blue section, the probability is (1/6) x (1/5) = 1/30.

The probability of getting an even number and a shade of blue:

This probability involves rolling an even number (2, 4, or 6) on the die and getting a shade of blue on the spinner.

Since the die has three even numbers and six equally likely outcomes, and the spinner has one shade of blue section, the probability is (3/6) x (1/5) = 1/10.

The probability of getting at least 3 and any color except a shade of blue:

This probability involves rolling a number greater than or equal to 3 on the die and getting any color except a shade of blue on the spinner.

Since the die has four outcomes (3, 4, 5, or 6) that satisfy this condition, and the spinner has four colors that are not shades of blue, the probability is (4/6) x (4/5) = 4/15.

The probability of getting at most 4 and yellow:

This probability involves rolling a number less than or equal to 4 on the die and getting yellow on the spinner.

Since the die has four outcomes (1, 2, 3, or 4) that satisfy this condition, and the spinner has one yellow section, the probability is (4/6) x (1/5) = 2/15.

Thus,

The probability of getting a 6 and any color except a shade of blue is 2/15.

The probability of getting a 5 and a shade of blue is 1/30.

The probability of getting an even number and a shade of blue is 1/10.

The probability of getting at least 3 and any color except a shade of blue is 4/15.

The probability of getting at most 4 and yellow is 2/15.

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Can anyone answer this question?

Answers

Answer:

its 75 obviously

Step-by-step explanation:

corresponding angles

angles in a straight line

give me the brainiest

180-105=75

angles in a straight line add upto 180

corresponding angles are equal

the radius of a circle is 9 meters. what is the circles area?

Answers

the rds of a c- 254.47 m2

Answer:

254.469 meters

Step-by-step explanation:

A = πr² = π · 9² ≈ 254.469

254.469 meters

A bottle of cough syrup has
300 mL. If you take 5-mL
spoonfuls 3 times a day, how
many days will the cough syrup
last?

Answers

Answer:

20 days?

Step-by-step explanation:

3 times a day is 15 and 300 ÷ 15 = 20

The graph plots four equations, A, B, C, and D:

Which pair of equations has (2, 12) as its solution?


Equation A and Equation C
Equation B and Equation C
Equation C and Equation D
Equation B and Equation D​

Answers

Answer:

Hi! The answer to your question is D. Equation B and Equation D

Step-by-step explanation:

☆*: .。..。.:*☆☆*: .。..。.:*☆☆*: .。..。.:*☆☆*: .。..。.:*☆

☆Brainliest is greatly appreciated!☆

Hope this helps!!

Stay Safe!!!

- Brooklynn Deka

Answer:

Equation B and Equation C

Step-by-step explanation:

We can pinpoint a solution of an equation on a graph by looking at where the two lines intersect. The points (2,12) quite literally mean when x is 2, y is 12. If two equations intersect at that very point, that is their solution.

Puteti sa ma ajutati va rog

Answers

Answer:

I read the title wrong, please remove my answer

Step-by-step explanation:

2) Find the area. Show All your work for full credit.

Answers

Answer:

35

Step-by-step explanation:

hi you would use the equation 1/2 b *h which is = to 1/2*14*5 which equals 35. Hope this helps thanks :)

HELP ASAP!!

Ariel is emptying the water from a 10 gallon cooler. The graph shows the
water level in the cooler as she empties it. Which best describes the rate of
change shown in the graph?

DO NOT PUT YOU FAKE FILES HERE !

Answers

Answer:

Step-by-step explanation:

The water level decreases 2 gallons every 3 seconds describes the rate of change shown in the grap

What is Graph?

Graph is a mathematical representation of a network and it describes the relationship between lines and points.

Given that Ariel is emptying the water from a 10 gallon cooler.

The graph shows the water level in the cooler as she empties it

Rate of change is change in water to change in time

(3, 8) and (0, 10) are the points from graph

Rate of change  = 10-8/0-3

=-2/3

The minus sign is showing that is is decreasing

The water level decreases 2 gallons every 3 seconds

Hence, the water level decreases 2 gallons every 3 seconds describes the rate of change shown in the graph.

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Given that 3x : 8 = 9 :2 , find the value of x .

Answers

Answer:

i hope you understand this answer

[tex]3x : 8 = 9 : 2[/tex]

[tex] \frac{3x}{8} = \frac{9}{2} [/tex]

[tex]3x × 2 = 8 × 9[/tex]

[tex]3x = \frac{8 \times 9}{2} [/tex]

[tex]3x = 4 \times 9[/tex]

[tex]x = \frac{4 \times 9}{3} [/tex]

[tex]x = 4 \times 3[/tex]

[tex]x = 12[/tex]

Consider the equation: X^2+16x-2=11 1) Rewrite the equation by completing the square

Answers

Answer:

[tex](x+8)^{2}[/tex] =77

x= -8 +/- [tex]\sqrt\\ 77[/tex]

From Khan Academy

I had 3 apples. I add 2 more apples. How many apples do I have?

Answers

Answer:

5 lol

Step-by-step explanation:

Answer:

5 im so smart :)

Step-by-step explanation:

The volume of the box is 60 cubic inches. What are
the length, width, and height of the box?

Answers

Answer: The volume is the product of the Length, Width, and Height: V = LWH.

Step-by-step explanation: We are given V = 240 in.3, and H = 6 in., and L = W + 3 in.

Thus 240 in.3 = (W+3 in.)*W*(6 in.) so W(W+3 in.) = 240 in.3 / 6 in. = 40 in.2

Using the distributive property and moving the constant to the left gives:

W2 + (3 in.)W - 40 in.2 = 0

This factors:

(W + 8 in.)(W - 5 in.) = 0

The first factor gives W = -8 in. which is nonsense because it is negative.

The second factor gives a valid answer of W = 5 in.

Graph y = - 2x + 5 will give brainilist if correct

Answers

Answer:

Step-by-step explanation:

That's the graph. The slope is -2 and 5 means where the y intersects.

What is 57.9709 divided by 3.456072

Answers

Answer: 16.77363782

Step-by-step explanation:

Please help someone I need an answer

Answers

Answer:

Step-by-step explanation:

Right Isosceles Triangle

Side a = 9

Side b = 9

Side c = 12.72792 = 9√2

Angle ∠A = 45° = 0.7854 rad = π/4

Angle ∠B = 45° = 0.7854 rad = π/4

Angle ∠C = 90° = 1.5708 rad = π/2

hope you pass your retest ;)

Solve: 16х2 - 81 = 0. (2 points)
Ox = 4, 9
Ox= -4, -9
ООО
9
х=
О
х
81
16
16

HELP PLEASEEE

Answers

C I think I’m sorry if it’s wrong

Answer:

x=9/4,x=-9/4

Step-by-step explanation:

16x^2−81=0

Step 1: Add 81 to both sides.

16x^2−81+81=0+81

16x^2=81

Step 2: Divide both sides by 16.

16x^2/16 = 81/16

x^2 = 81/16

Step 3: Take square root.

x = ±√81/16

x=2.25,x=−2.25

Convert to fraction form.

x=9/4,x=-9/4

what is the equation for the line that passes through the points (-5.5, 2.5) and (-2.5, -3.5)?​

Answers

Answer:

y=-2x-8.5

Step-by-step explanation:

y=mx+b

slope = -2

y=-2x+b

y intercept = -8.5

y = -2x-8.5

Plz Help!! NO LINK or REPORTED

Answers

I don’t know for sure but please let me know :)

please help!


options

A) integer

B) Real

C) Whole

D) irrational

Answers

C. Whole

#CarryOnLearning

Answer:

m

Step-by-step explanation:

Please no links :) giving brainliest, try to answer as soon as you can :)

Answers

Answer:

102,9 cm^2

Step-by-step explanation:

First of all we can find the area of the two rectangles at the sides of the figure

A rectangle = length x width = 8 x 4 = 32 cm^2

the rectangles are two so:

32 x 2 = 64 cm^2

for the figure in the center we can proceed like this: we can initially assume that also it is a rectangle, so we have to find the length

length = 16-8 = 8 cm

A = 8^2 = 64 cm^2 (so we have discovered that is a square)

if we look we can see that there is also a semicircle that is not part of the figure. We have to find its area and subtract it to the area of the square

A semiciricle = (radius^2 π)/2

radius = 8/2 = 4 cm

A semicirlce = (4^2) π/2 = 25,13 cm^2

64 - 25,13 = 38,87 cm^2

At least we have to added up this value to the area of the two rectangles

total area = 38,87 + 64 = 102,87 = 102,9 cm^2

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