Charlie needs a $275,000 mortgage and he'd like to pay it off in 30 years. He is considering two banks. Bank A: 3.5% with monthly payments of $1234.87 Bank B: 4% with monthly payments of $1312.89 Charlie doesn't think a 0.5% difference is that much. What is the difference between these two bank loans with total interest paid over the life of the loan?

Answers

Answer 1

Answer:

Difference in interest= $41,250

Step-by-step explanation:

To calculate the interest paid on each bank loan we use the following formula

Interest = Principal * Rate * Time

For Bank A

Interest = 275,000 * 0.035 * 30

Interest = $288,750

For Bank B

Interest = 275,000 * 0.04 * 30

Interest = $330,000

Therefore

Difference in interest= 330,000 - 288,750

Difference in interest= $41,250

Therefore if the mortgage is taken from Bank B he will pay an extra $41,250 on the loan.

The 0.5% difference in rates has a large impact over the 30 year term loan


Related Questions

A researcher is interested in finding a 90% confidence interval for the mean number of times per

day that college students text. The study included 147 students who averaged 44.7 texts per

day. The standard deviation was 17.9 texts. Round answers to 3 decimal places where possible.

a. To compute the confidence interval use a tv distribution.

b. With 90% confidence the population mean number of texts per day is between

and

texts.

Answers

Answer:

90% confidence the Population mean number of texts per day

(42.2561 ,47.1439)

Step-by-step explanation:

Step(i):-  

Given sample size 'n' = 147

mean of the sample size x⁻ = 44.7

standard deviation of the sample 'S' = 17.9

90% confidence the Population mean number of texts per day

[tex](x^{-} - t_{\alpha } \frac{S}{\sqrt{n} } ,(x^{-} + t_{\alpha } \frac{S}{\sqrt{n} })[/tex]

Step(ii):-

Degrees of freedom

       ν=n-1=147-1=146

t₀.₁₀ =  1.6554

[tex](x^{-} - t_{\alpha } \frac{S}{\sqrt{n} } ,(x^{-} + t_{\alpha } \frac{S}{\sqrt{n} })[/tex]

[tex](44.7 - 1.6554 \frac{17.9}{\sqrt{147} } ,(44.7 + 1.6554 \frac{17.9}{\sqrt{147} })[/tex]

(44.7 - 2.4439 ,44.7 + 2.4439 )

(42.2561 ,47.1439)

Conclusion:-

90% confidence the Population mean number of texts per day

(42.2561 ,47.1439)

Which decimal is equivalent to
15/100?
A- O 0.015
B- 0.15
C-o 1.5
D- 0.0015

Answers

Answer:

D

Step-by-step explanation:

0.0015

hope this helps

B - 0.15

hope this will help you !
good luck

f(x) = 3x + 2
What is f(5)?

Answers

Answer:

17

Step-by-step explanation:

f(x) = 3x + 2

f(5) = 3(5) + 2

f(5) = 15 + 2

f(5) = 17

Answer:

17

Step-by-step explanation:

f(x) = 3x + 2

Plug in:

3(5) + 2

15 + 2 = 17

Hope this helped.

Refer to △ABC. Find the length of side AB .

Answers

Step-by-step explanation:

Hello, there!!!!

It's simple lets get started with simple solution.....

Given,

AC= 7cm

BC= 25cm

let AB be x.

Now, As it is a Right angled triangle, taking angle B as a refrence angle. we get,

h= BC= 25cm

p= AC= 7cm

b= AB= x

now, by Pythagoras relation we get,

[tex]b = \sqrt{ {h}^{2} - {p}^{2} } [/tex]

[tex]or \: b = \sqrt{ {25}^{2} - {7}^{2} } [/tex]

By simplifying it we get,

b= 24cm

Therefore, the value of AB is 24 cm.

Hope it helps...

Solve for x: −3|2x + 6| = −12.

Answers

Answer:

x = -1 or x = -5

Step-by-step explanation:

−3 * |2x + 6| = −12 / -3

|2x + 6| = 4

because this is an absolute value equation there are 2 solutions:

2x + 6 = 4 or 2x + 6 = -4

2x = -2 or 2x = -10

x = -1 or x = -5

Answer:

x = -1 or x = -5

Step-by-step explanation:

cuz it is

a can do a piece of work in 10 days and B can do in 15 days in how many days would they finish the work if they do it




Answers

A can do a piece of work in 10 days and B can do it 15 days. If both of them are working together, half of the work can be finished in?

Here we find,LCM of 10 and 15 is 30.

A can do ( 1 /10 th ) of the work in one day Or, ( 3/30th ).

B can do ( 1/15th ) of the work in one day ( or 2/30th ).

Working together, A and B can do

= (3/30) + (2/30)

= 5/30

= 1/6 th of the work in one day.

So, they would require 30/5 or 6 days to complete the task.

8. If 30 cents out of every 1 dollar goes to taxes and the rest is net income, what's the
ratio of taxes to net income?
d
A. 30 : 7
B. 3:10
C. 30 : 1
D. 3:7

Answers

Answer:

D. 3:7

Step-by-step explanation:

1 dollar = 30 cents tax + 70 cents net income

The ratio of taxes to net income:

30 : 70 = 3 : 7

Correct choice is D

1 dollar=100cents

If 30cents are out then net income=100-30=70

ratio:-

[tex]\\ \rm\Rrightarrow \dfrac{30}{70}[/tex]

[tex]\\ \rm\Rrightarrow \dfrac{3}{7}[/tex]

[tex]\\ \rm\Rrightarrow 3:7[/tex]

The equation 8(y-3)= -40 is solved in several steps below. For each step, choose the reason that best justifies it.

Addition property of Equality
Subtraction Property of Equality
Multiplication property of equality
Division property of equality
simplifying
distributive property

Answers

Answer:

Step-by-step explanation:

The steps and their reasons for the equation 8(y - 3) = - 40 are given below.

What is the solution to the equation?

The allocation of weights to the important variables that produce the calculation's optimum is referred to as a direct consequence.

The equation is given below.

8(y - 3) = - 40

            Steps                                               Reason

       8(y - 3) = - 40                                          Given

       8y - 24 = - 40                                Distributive property

8y - 24 + 24 = - 24 + 24                 Addition Property of Equality

               8y = - 16                                      Simplifying

          8y / 8 = - 16/8                       Division property of equality

                  y = - 2                                       Simplifying

More about the solution of the equation link is given below.

https://brainly.com/question/545403

#SPJ2

What is the area of the regular polygon shown below?

Answers

Answer:

shown below..I can't see..

Answer:

93.5 for area

Step-by-step explanation:

there is no picture so that's  a simple guess

Labour costs, totalling $47.25, account for 63%
of a car repair bill. Calculate the total bill.

Answers

Answer:

75

Step-by-step explanation:

Let x = total bill

x*63% = 47.25

x *.63 = 47.25

Divide each side by .63

x*.63/.63 = 47.25/.63

x=75

What is the value of 1 in 1,255 is what times the value of the 1 in 82,175

Answers

Answer:

100,000

You take 1,000 because it's in the thousandths place of 1,255. The value of that one is 1,000 so you multiply that times 100, which is the value of 1 in 82,175.

Answer:

Step-by-step explanation:

which expression have a value of 2/3
A: 8+(24 divided by 12) X 4
B:8+24 divided by (12X4)
C: 8+24 divided 12X4
D: (8+24) divided (12X4)

Answers

B is the correct answer!
32 / 48 =2/3

10/7p+13/8+15/2p=909/56 i NEED THiS solving multi step equations w fractions and #8 PLEASE

Answers

Answer:

P= 2

Step-by-step explanation:

10/7p+13/8+15/2p=-909/56

Combine like terms

10/7p+15/2p=-909/56-13/8

20p+105p/14=-909-13*7/56

125/14p=-909-91/56

125/14p= -1000/56

125/14p*14/125= -1000/56*14/125

simplify

P= 8/4=2

And for #8 n =1 I answered this question it

Search

Savannah used 2 quarts of paint on a summer project. She still had 5.
quarts of paint left when she was finished. How much paint did Savannah
have at first?
la cloud

Answers

Answer:

7 quarts

Step-by-step explanation:

total paint = paint used + paint left

total paint = 2 +5

total paint 7

5 quarts left +2 quarts used = 7 so the answer is 7 yw

The cost in dollars y of producing x computer
desks is given by y = 40x + 4000
X
100
200
300
a. Complete the table
y
b. Find the number of computer desks that can be produced for $6200. (Hint: Find x when y = 6200.)
a. Complete the table.
х
100
200
300
y
b. For $6200,_ computer desks can be produced

Answers

Answer:

a.

y= 40x +4000

x= 100 --> y= 40(100)+4000= 4000+4000=8000

x=200 --> y= 40(200)+4000= 6000+4000= 10000

x=300 --> y= 40(300)+4000= 12000+4000= 16000

(in $)

b.

y= 40x+4000

6200= 40x+4000

6200-4000= 40x

2200= 40x

2200/40= x

55= x

(in unit)

Step-by-step explanation:

I hope this helps

if u have question let me know in comments ^_^

The perimeter of the isoceles triangle is 54. The ratio of the leg to the base is 7:4. Find the length of the base

Answers

9514 1404 393

Answer:

  12 units

Step-by-step explanation:

The ratio of the base to the other sides is ...

  4 : 7 : 7

The perimeter is a total of 4 +7 +7 = 18 ratio units, so each ratio units stands for 54/18 = 3 length units.

The base length is then ...

  (4 ratio units)(3 length units/ratio unit) = 12 length units

Need Assistance
Please Show Work​

Answers

Answer:

3 years

Step-by-step explanation:

Use the formula I = prt, where I is the interest money made, p is the starting amount of money, r is the interest rate as a decimal, and t is the time the money was borrowed.

Plug in the values and solve for t:

108 = (1200)(0.03)(t)

108 = 36t

3 = t

= 3 years

What is the slope? Please Help

Answers

Answer:

-1

Step-by-step explanation:

Pick two points on the line

(0,2) and (2,0)

Using the slope formula

m = ( y2-y1)/(x2-x1)

    = ( 0-2)/(2-0)

    = -2/2

  = -1

Answer:

-1

Step-by-step explanation:

Use two points on the line to find the slope, using rise over run.

We can use the points (0, 2) and (2, 0).

From the first point to the other, the y value decreases by 2 and the x value increases by 2.

Use rise (change in y value) over run (change in x value):

-2 / 2

= -1

So, the slope is -1.

A sample of bacteria is decaying according to a half-life model. If the sample begins with 700 bacteria, and after 10 minutes there are 140 bacteria, after how many minutes will there be 40 bacteria remaining? Round your answer to the nearest whole number.

Answers

Answer:

18 minutes

Step-by-step explanation:

A = A₀ (½)^(t / T)

where A is the final amount,

A₀ is the initial amount,

t is the time,

and T is the half life.

A = 140 when t = 10.  Solve for the half life:

140 = 700 (½)^(10 / T)

0.2 = ½^(10 / T)

log 0.2 = (10 / T) log 0.5

10 / T = 2.32

T = 4.31

When A = 40, t is:

40 = 700 (½)^(t / 4.31)

0.057 = ½^(t / 4.31)

log 0.057 = (t / 4.31) log 0.5

t / 4.31 = 4.13

t = 17.8

Rounded to the nearest whole number, it takes 18 minutes.

The time taken for bacteria to reach 40 according to the exponential half-life decay formula is 18 minutes.

What is an exponential function?

In mathematics, an exponential function is a relationship of the type y = ax, where x is an independent variable that spans the entire real number line and is expressed as the exponent of a positive number.

The half-life decay formula is given as,

N(t) = N₀ [tex](1/2)^{(t / T)}[/tex]

Where T is half-life while t is the time taken.

N₀ is the initial amount,

As per the given,

N(t) = 140 when t = 10.

140 = 700 [tex](1/2)^{(t / T)}[/tex]

Take log both sides,

log 0.2 = (10 / T) log 0.5

10 / T = 2.32

T = 4.31 minutes

Put N(t) = 40

40 = 700[tex](1/2)^{(t / 4.31)}[/tex]

Take log both sides,

log 0.057 = (t / 4.31) log 0.5

t / 4.31 = 4.13

t = 17.8 ≈ 18 minutes

Hence "The time taken for bacteria to reach 40 according to the exponential half-life decay formula is 18 minutes".

For more about exponential function,

https://brainly.com/question/15352175

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find the value of X from the given picture ​

Answers

Answer:

x = 108

Step-by-step explanation:

The sum of a circle is 360

90 + x/2 + x+x = 360

Combine like terms

90 + 2x+x/2 = 360

90 + 5/2 x = 360

Subtract 90 from each side

5/2x = 270

Multiply each side by 2/5

5/2x * 2/5 = 270*2/5

x =108

Determine which of the four levels of measurement (nominal, ordinal, interval, ratio) is most appropriate. Years in which U.S. presidents were inaugurated

Answers

Answer:

Interval Level of Measurement

Step-by-step explanation:

The Interval level of measurement highlights the distances between two measurements. These distances are meaningful and could be rated as low intervals or high intervals. Intervals also indicate class and order between measurements. The inauguration of the United States President is an event that occurs 72 to 78 days after the presidential election. It is usually done as a private and public oath-taking ceremony on January 20, four years after the last presidential election. So, even if the president is on a second term, this event must be held.

The last U.S presidential election occurred on January 20, 2017, and the next one will be held on January 21, 2021. So there is an interval of four years between the last and next U.S presidential inauguration ceremony.

Write an equation for a line perpendicular to y = − 5 x + 5 and passing through the point (5,5)

Answers

Answer:

The answer is

[tex]y = \frac{1}{5} x + 4[/tex]

Step-by-step explanation:

Equation of a line is y = mx + c

where

m is the slope

c is the y intercept

To find the line perpendicular to

y = -5x + 5 we must first find the slope of

Comparing with the general equation above

Slope = - 5

The slope of the perpendicular line is the negative inverse of the slope of the original line

Slope of perpendicular line = 1/5

Equation of the line using point (5,5) and slope 1/5 is

[tex]y - 5 = \frac{1}{5} (x - 5)[/tex][tex]y - 5 = \frac{1}{5} x - 1[/tex][tex]y = \frac{1}{5} x - 1 + 5[/tex]

We have the final answer as

[tex]y = \frac{1}{5} x + 4[/tex]

Hope this helps you

Answer:

y=0.2x+4 or y=1/5 x+4.

Step-by-step explanation:

When one line is perpendicular to another, you have to find the opposite reciprocal for the slope of the given equation.

For instance, if you have the number 5, the reciprocal of 5 is 1/5 or 0.2. The opposite of positive is negative. Therefore, it is -0.2.

Therefore, if the slope of the first equation is -5, the slope for the next equation is 1/5. Reciprocal of -5 is -1/5. The opposite of -1/5 is positive 1/5. Or, the opposite of negative is positive. Therefore, it would be 1/5x.

However, we are not done.

Since we are given that the line passes through the point (5,5), we need to find the y-intercept of this equation.

The formula for slope-intercept is y=mx+b.

M is your slope

B is your y-intercept.

We can find the y-intercept by actually plugging in the point (5,5) into the new equation.

5=0.2(5)+b.

5 is x and 5 is also y.

(x,y).

Simplify the equation by multiplying 0.2 times 5. That is equal to 1.

We now have 5=1+b.

Isolate for the letter "b" by subtracting 1 from both sides.

1-1 is 0.

5-1 is 4.

Therefore, b=4.

Finally, we can plug in the y-intercept into the new equation.

y=0.2 or 1/5x+4.

I hope this helps! I also hope you have a great rest of your day!

Solve the inequality 7a + 13 < 48.​

Answers

Hi there! :)

Answer:

[tex]\huge\boxed{a < 5}[/tex]

Given:

7a + 13 < 48

Isolate the variable "a" by subtracting 13 from both sides:

7a - 13 < 48 - 13

7a < 35

Divide both sides by 7:

7a/7 < 35/7

a < 5.

Answer:

a < 5

Step-by-step explanation:

7a + 13 < 48

Subtract 13 from each side

7a + 13-13 < 48-13

7a < 35

Divide each side by 7

7a/7  < 35/7

a < 5

Solve this system of equations:

3x - 2y = -8
y=3/2x - 2

PLEASE WRITE THE STEPS

Answers

Hey there! I'm happy to help!

We see that y is equal to 3/2x-2. We can replace the y in the first equation with 3/2x-2 because they are equal and we can solve for x.

3x-2(3/2x-2)=-8

We use the distributive property to undo the parentheses.

3x-3x+4=-8

We combine like terms.

4=-8

We see that since there is no x anymore, there cannot be a solution. We have no x value to solve for the y value either, so there is no solution to this system of equations.

Have a wonderful day! :D

_____, as a defense mechanism, is the unconscious act of keeping threatening or disturbingthoughts, feelings, or impulses out of consciousness.

a. Sublimation
b. Projection
c. Reaction formation
d. Repression

Answers

_____, as a defense mechanism, is the unconscious act of keeping threatening or disturbing thoughts, feelings, or impulses out of consciousness.



Answer is: REPRESSION.

Please answer this correctly without making mistakes

Answers

Answer:

3 1/4

Step-by-step explanation:

Hey there!

Well if Cedarburg to Westford is 8 3/4 miles and Oxford to Westford is 5 1/2 miles, we can make the following,

CO = CW - OW

CO = 8 3/4 - 5 1/2

Make the denominators the same,

5 1/2

improper

11/2

*2

22/4

Proper

5 2/4

8 3/4 - 5 2/4

3 1/4 miles

Hope this helps :)

List the stem numbers below!!

Answers

Answer:

see below

Step-by-step explanation:

The stems are in the middle and the leaves are on the left and right

Stems are 0,1,2,3,4,5

Last month, a printing company printed $56,000.00 worth of books. This month, they printed $63,000.00 worth of books. What is the percent increase in their printing?

Answers

Answer: 12.5%

Explanation:

56000 • x% = 63000

56000 • x/100 = 63000

56000x = 6,300,000

x = 6,300,000/56,000

x = 112.5%

x - 100 = 112.5% - 100% = 12.5%

The blood platelet counts of a group of women have a​ bell-shaped distribution with a mean of 256.3 and a standard deviation of 66.8. ​(All units are 1000 ​cells/μ​L.) Using the empirical​ rule, find each approximate percentage below. a. What is the approximate percentage of women with platelet counts within 3 standard deviations of the​ mean, or between 55.9 and 456.7​? b. What is the approximate percentage of women with platelet counts between 122.7 and 389.9​?

Answers

Answer:

a) In the interval  (  55,9  ;   456,7 ) we will find 99,7 % of all values

b) In the interval  (  122,7  ;  389,9 ) we find 95,4 % of all values

Step-by-step explanation:

For a Normal distribution N (μ ; σ ) the Empirical rule establishes that the intervals:

( μ  ±  σ  )          contains 68,3 % of all values

( μ  ±  2σ  )        contains 95,4 % of all values

( μ  ±  3σ  )        contains 99,7 % of all values

If   N ( 256,3 ; 66,8 )

σ  =  66,8        ⇒   3*σ  = 3 * 66,8  = 200,4

Then:     256,3 - 200,4  =  55,9

And        256,3 + 200,4 = 456,7

a) In the interval  (  55,9  ;   456,7 ) we will find 99,7 % of all values

b) 2*σ  = 2 * 66,8  = 133,6

Then  256,3 - 133,6  = 122,7

And    256,3 + 133,6 = 389,90

Then in the interval  (  122,7  ;  389,9 ) we find 95,4 % of all values

find out what's wrong with this graph

Answers

Answer:

The y-axis is upside down, meaning that instead of the values increasing as they go up, they decrease.

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