Craig decides to purchase a property that has been valued at $475,000. He has $80,000 available as a deposit and will require a mortgage for the remaining amount. The bank offers him a 25 year mortgage at 2% interest. Calculate the total interest he will pay over the life of the loan, assuming he makes monthly payments. Give your answer in dollars to the nearest ten dollars. Do not include commas or the dollar sign in your answer.

THE REAL ANSWER IS $107, 270


First, we note that Craig requires a mortgage on $475,000−$80,000=$395,000. To calculate the monthly repayments we must apply the formula for P0 and solve for d, that is,
P0=d(1−(1+rk)−Nk)(rk).
We have P0=$395,000,r=0.02,k=12,N=25, so substituting in the numbers into the formula gives
$395,000=d(1−(1+0.0212)−25⋅12)(0.0212),
that is,
$395,000=235.9301d⟹d=$1,674.22.
Therefore the total interest payable is
I=$1,674.22×25×12−$395,000=$107,266
which is $107,270 to the nearest $1

Answers

Answer 1

The total interest is $107,270

What is monthly payment formula?

The formula for monthly payment is:

[tex]M = \frac{P(\frac{r}{12})( 1+\frac{r}{12})}{( 1+\frac{r}{12})^n-1}[/tex]

We can find total interest as shown below:

Value of property = $475,000

Money available as a deposit = $80,000

P = 475,000-80,000

= 395000

t = 25 year

r = 2% = 0.02

n = 25*12 = 300

[tex]M = \frac{P(\frac{r}{12})( 1+\frac{r}{12})}{( 1+\frac{r}{12})^n-1}[/tex]

Putting the value of P, t, r, and n in the above formula

[tex]=\frac{395000(\frac{0.02}{12} )(1+\frac{0.02}{12}) }{(1+\frac{0.02}{12})^{300}-1}[/tex]

after solving the above expression

M = $1674.22

Interest = M*n-P

Putting the value of P, n and M

= 1674.22*300-395000

= 502266-395000

= 107,266

Rounding to nearest ten dollar

= $107,270

Hence, the total interest is $107,270.

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Answer 2

Answer:

Step-by-step explanation:

Craig Decides To Purchase A Property That Has Been Valued At $475,000. He Has $80,000 Available As A

Related Questions

Find the area of a triangle with legs that are: 16 m, 12 m, and 8 m.

Answers

Answer: 46.48 m²

Step-by-step explanation:

this question was answered already, go search it up

Which of the following is most likely the next step in the series

Answers

Answer:

A

Step-by-step explanation:

The pattern is quadrilateral (4-gon), pentagon (5-gon), and hexagon (6-gon). Therefore the next figure would be a heptagon (7-gon).

Select the solution to the following system of equations:

4x + y = 6
2x - 3y = -4

Answers

The solution to the given system of linear equations is x = 1, y = 2. That is (1, 2)

Simultaneous linear equations

From the question, we are to solve the given system of equations

The given system of equations is

4x + y = 6     -----------(1)

2x - 3y = -4   -----------(2)

From the equation (1)

4x + y = 6

y = 6 - 4x      ----------(3)

Substitute the value of y into equation (2)

2x - 3y = -4

2x -3(6 - 4x) = -4

2x -18 +12x = -4

2x + 12x = -4 + 18

14x = 14

x = 14/14

x = 1

Substitute the value of x into equation (3)

y = 6 - 4x

y = 6 - 4(1)

y = 6 - 4

y = 2

Hence, the solution to the given system of linear equations is x = 1, y = 2. That is (1, 2)

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Solve the inequality for x.
5x-39-3(6-4x)
Simplify your answer as much as possible.

Answers

Answer:

= 5x-39-18-12x

=5x-12x-39-18

=-7x-57

2) Put the following numbers in order from
greatest to least.
6.05, 6.007, 6.5, 6.25

Answers

Answer: 6.5, 6.25, 6.05, 6.007

Step-by-step explanation:

We need to look at each place value to see which one is the biggest. Since the units place is the same for all the numbers, let's look at the tenths place.

6.5, 6.25, 6.05, 6.007

Since 5 is the biggest number out of all that are underlined, 6.5 is the biggest one, and goes first.

2 is the second biggest number out of all that are underlined, so 6.25 goes second.

However, there are 2 numbers that have 0 in their tenths place, so we need to go one place value further: the hundredths place.

6.05, 6.007

Since 5 is bigger than 0, 6.05 goes third. 6.007 is the only number left, so it goes last.

Hence, the order is 6.5, 6.25, 6.05, 6.007

An equestrian club orders magazine subscriptions for new members.
Last year they had 32 new members and spent $624 on subscriptions.
Use the equation 32m = 624 to find the cost of each subscription.
Enter your answer in the box.

Answers

Answer:

$19.50

Step-by-step explanation:

Dividing both sides by 32, we get $19.50.

What is the total length of all meteors that are 1 6/8 inches?

A line plot with the title, length of meteors. The data is measurement in inches. The line plot goes from two eighths to one and seven eighths, with fourteen tick marks in all. The first tick mark is two eighths and has one data point. The second tick mark is three eighths and has three data points. The third tick mark is four eighths and has two data points. The fourth tick mark is five eighths and has no data points. The fifth tick mark is six eighths and has two data points. The sixth tick mark is seven eighths and has no data points. The seventh tick mark is one and has no data points. The eighth tick mark is one and one eighth and has no data points. The ninth tick mark is one and two eighths and has one data point. The tenth tick mark is one and three eighths and has two data points. The eleventh tick mark is one and four eighths and has no data points. The twelfth tick mark is one and five eighths and has no data points. The thirteenth tick mark is one and six eighths and has two data points. The fourteenth tick mark is one and seven eighths and has one data point.

Answers

The total length of all meteors that are 1 6/8 inches is three and four-eighths inches.

What is the total length of all meteors?

Given :

Tick 1 exists 2/8 (1 data point)

Tick 2 exists 3/8 (3 data points)

Tick 3 exists 4/8 (2 data points)

Tick 4 exists 5/8 (no points)

Tick 5 exists 6/8 (2 data points)

Tick 6 exists 7/8 (no data points)

Tick 2 exists 3/8 (3 data points)

....

Tick 13 exists [tex]$1\frac{6}{8}[/tex] (2 data points)

Therefore, total length of all meteors that exist [tex]$1\frac{6}{8}[/tex] inches :

Length of meteor = [tex]$1\frac{6}{8}[/tex]

Number of meteors = 2

[tex]$(2 * 1\frac{6}{8}) = 2 * 1\frac{4}{8} = \frac{28}{8} = 3 \frac{3}{8} = 3 \frac{1}{2}[/tex]

Therefore, the correct answer is option A. three and four-eighths inches

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The complete question is :

What is the total length of all meteors that are 1 6/8 inches? A line plot with the title, length of meteors. The data is a measurement in inches. The line plot goes from two eighths to one and seven eighths, with fourteen tick marks in all. The first tick mark is two eighths and has one data point. The second tick mark is three eighths and has three data points. The third tick mark is four eighths and has two data points. The fourth tick mark is five eighths and has no data points. The fifth tick mark is six eighths and has two data points. The sixth tick mark is seven eighths and has no data points. The seventh tick mark is one and has no data points. The eighth tick mark is one and one eighth and has no data points. The ninth tick mark is one and two eighths and has one data point. The tenth tick mark is one and three-eighths and has two data points. The eleventh tick mark is one and four eighths and has no data points. The twelfth tick mark is one and five-eighths and has no data points. The thirteenth tick mark is one and six eighths and has two data points. The fourteenth tick mark is one and seven eighths and has one data point.

A) three and four-eighths inches

B) three and five-eighths inches

C) four and seven-eighths inches

D) three and seven-eighths inches

(c) Use a calculator to verify that Σ(x) = 64, Σ(x2) = 1118, Σ(y) = 628, Σ(y2) = 87,982, and Σ(x y) = 9,627.

Compute r. (Enter a number. Round your answer to three decimal places.)

Answers

The correlation based on the computation is 0.97.

How to compute the value?

It should be noted that the question is that we should simply calculate the correlation which is r.

The correlation will be:

= Σ(x y) / (Σ(x²) × Σ(y²)

= 9627/✓(1118 × 87982)

= 9627 ✓98363876

= 9627/9917.86

= 0.97

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use long division to convert 3/10 into decimals.​

Answers

Answer:

3/10 as a decimal is expressed as 0.3.

Answer showing long division in attachment
.3 is the answer

A ladder is leaning against a building as shown in the
diagram.
How many feet up the side of the building is the top of
the ladder?
ft
10 feet
6 feet

Answers

The length of ladder is 30 ft.

How can the feet that made up the side of the building is the top of the ladder be known ?

The formula below can be used in solving the problem

Tan (∅)= [tex]\frac{opposite}{adajacent}[/tex]

∅=70°

opposite = BC

Adjacent  = 12 ft

70°= opposite/ 12

opposite= 32.96 ft

Therefore, The length of ladder is 30 ft.

NOTE; Since the actual diagram can not be found i solved another on on the same topic

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CHECK COMPLETE QUESTION BELOW:

Consider the diagram shown where a ladder is leaning against the side of a building. the base of the ladder is 12ft from the building. how long is the ladder? (to the nearest ft)

a. 25ft

b. 30ft

c. 35ft

d. 40ft

c= 0.99, x= 14.6, s=0.75, n = 13

Answers

Answer:

sorry accidentally posted

Step-by-step explanation:

will update when question comes out

The wheel of the average bicycle is 28 inches in diameter. How many feet will be covered in 9
turns of the wheel?​

Answers

Answer:

Approximately 66 feet

Step-by-step explanation:

Given d = 28 in

Find the circumference:

C = πd = 3.14*28 = 87.92 in

Find the distance covered by 9 turns:

9C = 9*87.92 = 791.28 in

Convert inches to feet:

1 foot = 12 in791.28 in = 791.28/12 ft = 65.94 ft ≈ 66 ft

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

Answers

Answer: 5020

Step-by-step explanation:

10^3= 1000

1000*5.02=5020

which of the following statements is true about the solution of the system? 2x-y=8 and y=2x-3

Answers

Answer:

no roots.

Step-by-step explanation:

[tex]\left \{ {{2x-y=8} \atop {y=2x-3}} \right. \ = > \ \left \{ {{2x-y=8} \atop {2x-y=3}} \right. \ = > \ no \ solution.[/tex]

the center of a circle is on the line y=2x and the line x=1 is tangent to the circle at (1,6).find the center and the radius

Answers

The radius and the center of the circle are 4 units and (1,2), respectively

How to determine the center and the radius?

The center of the circle is on

y = 2x and x = 1

Substitute x = 1 in y = 2x

y = 2 * 1

Evaluate

y = 2

This means that the center is

Center = (1, 2)

Also, we have the point of tangency to be:

(x, y) = (1, 6)

This point and the center have the same x-coordinate.

So, the distance between this point and the center is

d = 6 - 2

d = 4

This represents the radius

Hence, the radius and the center of the circle are 4 units and (1,2), respectively

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James has $20 in his wallet and makes $10 per hour. Kelly has $50 in her wallet but only makes $8 per hour.

How many hours of work will it take for these two people to have the same amount of money?

Answers

Answer:

At 15 hours of work they will be equal.

Step-by-step explanation:

James: y = 10x + 20

Kelly: y = 8X + 50

Set them equal to each other and solve

10x + 20 = 8x + 50  Subtract 8x from both sides of the equation

2x + 20 = 50  Subtract 20 from both sides of the equation

2x = 30  Divide both sides by 2

x =15

Select the correct answer from each drop-down menu. A hot tub is in the shape of a regular pentagon. To the nearest tenth, what is the area of the cover on the hot tub? 4 ft The apothem of the pentagon is approximately ft². ft, and the perimeter of the pentagon is Reset Next ft. Therefore, the area is ​

Answers

Answer:

27.53

Step-by-step explanation:

The apothem of the pentagon is 2.7528 ft, area of pentagon is 25.528 ft² and perimeter of pentagon is 20ft.

What is Polygon?

Polygon can be defined as a flat or plane, two-dimensional closed shape bounded with straight sides

Given,

A hot tub is in the shape of a regular pentagon.

The side of polygon is 4ft.

We need to find the apothem of the pentagon, area and perimeter.

In the middle we will have 360 degrees.

If we divide the polygon to five triangles, then one of the verte will have 36 degree measure.

h=2/tan 36=2.7528

Perimeter of polygon=5 a

a is side of polygon

Perimeter=5×4=20 ft.

Area=1/2 perimeter ×apothem

=1/2×20×2.7528

=27.528 ft²

Hence the apothem of the pentagon is 2.7528 ft, area of pentagon is 25.528 ft² and perimeter of pentagon is 20ft.

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I need help with this geometry question asap!

Answers

No pair of lines can be proven to be parallel considering the information given, therefore, the answer is: D. None of the options are correct.

When are Two Lines Proven to be Parallel to each other?

Two lines that are cut across by a transversal can be proven to be parallel to each other if:

The alternate interior angles along the transversal and on the two lines are congruent [alternate interior angles theorem].The alternate exterior angles along the transversal and on the two lines are congruent [alternate exterior angles theorem].The same-side interior angles along the transversal and on the two lines are supplementary [same-side interior angles theorem].The corresponding angles along the transversal and on the two lines are congruent [corresponding  angles theorem].

Thus, given the following information:

m∠2 = 115°

m∠15 = 115°

With only these two angles given, we can't use any of the theorems to prove that any of the two lines are parallel because angle 2 and angle 15 are located entirely on two different transversals that crosses two lines.

In summary, we can conclude that:

D. None of the options are correct.

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Convert the following equation into slope-intercept form.

7x+y = 7

y = -7x+?

Answers

Answer:

y = - 7x + 7

Step-by-step explanation:

the equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

given

7x + y = 7 ( subtract 7x from both sides )

y = - 7x + 7 ← in slope- intercept form


For f(x) = 2x + 1 and g(x) = x² - 7, find (f+ g)(x).

Answers

Answer:

(f + g)(x) = x² + 2x - 6

Step-by-step explanation:

(f + g)(x)

= f(x) + g(x)

= 2x + 1 + x² - 7 ← collect like terms

= x² + 2x - 6 ← in standard form

A jar of tickets for a drawing contains 22 winning tickets and 63 non-winning tickets. What are the odds against winning in the drawing? please help​

Answers

Answer: 22/85

Step-by-step explanation:

Answer:

22/85

Step-by-step explanation:

Please help to solve these 3 questions

Answers

Based on the number of goals scored in the football matches, the mode is 4 goals. The median is 3 goals and the mean goals scored is 2.6 goals.

What are the statistics from the football matches?

The mode is the number of goals that was scored in the most matches. This number is 4 goals as this was scored in 6 matches.

To find the median, order the numbers:

0, 0, 0, 0, 1, 1, 2, 2, 2, 3, 3, 3, 4, 4, 4, 4, 4, 4, 5, 6

The median is:

= (3 + 3) / 2

= 3

The mean is:

= (0 + 0 + 0 + 0 + 1 + 1 + 2 +2 +2 + 3 + 3 + 3 + 4 + 4+ 4 + 4 +4 + 4 + 5 + 6) / 20

= 2.6 goals

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If you spend $50 (including shipping) at an online store, you recieve a $10 gift card. You want to purchase CDs that cost $12 each. If shipping cost $5, write and solve an inequality to find the number of Cds you must to receive the giftcard.

Answers

Four CDs must be bought to receive a gift card from an online store.

How to determine the least number of CDs to be bought to receive a gift card

The total costs are equal to the sum of the shipping cost and the total related to the number of acquired CDs (n). The number of gift cards (m) is equal to the total costs divided by minimum spent money, that is, $ 50. We need to solve the following inequation to find the minimum quantity of CDs:

(12 · n + 5)/50 > 1

12 · n + 5 > 50

12 · n > 45

n > 45/12

n > 3.75

Four CDs must be bought to receive a gift card from an online store.

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3. Consider the equation 2x² + 4y² + 8x - 16y + F = 0. Find all values of F such that the graph of the equation is a) an ellipse b) a point - ellipse​

Answers

The equation 2•x² + 4•y² + 8•x - 16•y + F = 0, at a value of F is the graph of an ellipse when we have;

a. A value of F that results in the equation of an ellipse is; F = 23

b. A point on the ellipse is ((-2), 2.5)

Which method can be used to find the value of F that gives the graph of an ellipse?

The equation of an ellipse can be presented as follows;

[tex] \frac{(x - h) ^{2} }{ {a}^{2} } + \frac{(y - k) ^{2} }{ {b}^{2} } = 1[/tex]

The given equation can be presented as follows;

2•x² + 4•y² + 8•x - 16•y + F = 0

Collecting like terms, gives;

2•(x² + 4•x) + 4•y² - 16•y + F = 0

Adding a constant value to both sides, we get;

2•(x² + 4•x + 4) + 4•y² - 16•y + 16 + F = 24

2•(x + 2)•(x + 2) + (2•y - 4)•(2•y - 4) + F = 24

2•(x + 2)² + 4•(y - 2)² + F = 24

2•(x + 2)² + 4•(y - 2)² + F - 23 = 24 - 23 = 1

When F = 23, we have;

2•(x + 2)² + 4•(y - 2)² + 23 - 23 = 1

2•(x + 2)² + 4•(y - 2)² = 1

Which gives;

[tex] \mathbf{\frac{(x + 2) ^{2} }{ \left( {\frac{1}{ \sqrt{2} }} \right)^{2}} + \frac{(y - 2) ^{2} }{ \left( {\frac{1}{ 2} } \right)^{2}} } = 1[/tex]

Where;

a = 1/(√2)b = 1/2

b) A point on the ellipse can be found as follows;

2•(x + 2)² + 4•(y - 2)² = 1

When x = -2

2•((-2) + 2)² + 4•(y - 2)² = 1

0 + 4•(y - 2)² = 1

y - 2 = √(1/4) = 1/2

y = 2 + 1/2 = 2.5

A point on the ellipse is therefore;

((-2) , 2.5)

When y = 2

2•(x + 2)² + 4•(2 - 2)² = 1

2•(x + 2)² + 0 = 1

2•(x + 2)² = 1

(x + 2)² = 1/2

x + 2 = √(1/2)

x = √(1/2) - 2

Another point on the ellipse is therefore;

((√(1/2) - 2), 0)

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IM IN A HURRY PLEASE HELP ME QUESTION IS DOWN BELOW WORTH 15 POINTS each

Answers

Answer:

a: Angle EBD

b: Can't really phrase this well, a semicircle that is to the left or right of diameter BD

c: Arc EDC

d: 80 degrees

e: 180

Step-by-step explanation:

An inscribed angle is an angle with all 3 points on the circumference of a circle.

A semicircle is half a circle

A major arc is an arc greater than 180 degrees

The inner angle is 80 degrees

Arc BCD is half a circle so its 360/2=180 degrees

Simplify: Simplify: StartRoot StartFraction 27 x Superscript 12 Baseline Over 300 x Superscript 8 Baseline EndFraction EndRoot

Answers

The solution of the given expression is 9*[tex]x^{4}[/tex]/100.

GIven an expression equal to 27[tex]x^{12}[/tex]/300[tex]x^{8}[/tex].

We have to simplify the expression in which variable comes only once.

Expression is combination of numbers ,symbols, fraction, coefficients, indeterminants,determinants, etc. It is mostly not found in equal to form. It expresses a relationship between variables.

The given fraction is 27[tex]x^{12}[/tex]/300[tex]x^{8}[/tex].

When we observe we find that in numerator x has large power and denominator x has small power as compared to power in numerator. So we will deduct the powers so that they will give only one power to us.

=27[tex]x^{4}[/tex]/300

Now divide numerator an denominator by 3.

=9[tex]x^{4}[/tex]/300

Hence the expression 27[tex]x^{12} /300x^{8}[/tex] will look like [tex]9x^{4} /100[/tex] after simplifying.

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Answer:

[tex]Simplify:\sqrt\frac{27x^{12} }{300x^{8} }[/tex]

[tex]O \frac{9}{100}x^{4}[/tex]

✔ [tex]\frac{3}{10} x^{2}[/tex]

[tex]O \frac{27}{300} x^{4}[/tex]

[tex]O\frac{9}{10} x^{2}[/tex]

D
C
63. If AD 20 centimeters, DC= 15 centimeters,
BC=7 centimeters, and AB = 24 centimeters,
what is the area of quadrilateral ABCD?
A. 66 sq cm
B.
B
117 sq cm
C. 234 sq cm
D.
468 sq cm

Answers

The area of the irregular quadrilateral ABCD is equal to 234 square centimeters. (Correct choice: C)

What is the area of the quadrilateral?

Herein we have a description of an irregular quadrilateral, whose area must be determined by adding the areas of minor quadrilaterals and triangles that are part of it. The area is now determined:

A = 0.5 · (24 cm) · (7 cm) + 0.5 · (15 cm) · (20 cm)

A = 234 cm²

The area of the irregular quadrilateral ABCD is equal to 234 square centimeters. (Correct choice: C)

Remark

The picture with the quadrilateral is missing and is included as attachment.

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Find the surface area of this cone.

60π m2

20π m2

36π m2

54π m2

Answers

The surface area of a cone with radius of 4 m and slant height of 5 m is 36π m²

What is an equation?

An equation is an expression that shows the relationship between two or more numbers and variables.

The surface area of a cone with radius (r) and slant height (l) is:

S.A = πr(r + l)

Given that r = 4, l = 5, hence:

S.A = π(4)(4 + 5) = 36π m²

The surface area of a cone with radius of 4 m and slant height of 5 m is 36π m²

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Answer:

36π m2

Step-by-step explanation:

> Function g can be thought of as a translated (shifted) version of Y f(x) = x².​

Answers

Using translation concepts, function g(x) is given as follows:

g(x) = x² - 3.

What is a translation?

A translation is represented by a change in the function graph, according to operations such as multiplication or sum/subtraction in it's definition.

Researching this problem on the internet, g(x) is a shift down of 3 units of f(x) = x², hence:

g(x) = x² - 3.

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1. There are 50 contestants signed up for a TV show. There are 36 more female contestants than male contestants. How many female contestants have signed up to compete? Show your solution and explain how you plan to explain this to your students.

Answers

The number of female contestants who signed up to compete is; 43.

What is the number of female contestants?

Let number of females = x

Let number of males = y.

Hence, it follows from the task content that;

x+y = 50

x-y = 36.

Hence, by adding both equations together in a bid to determine the number of females; we have;

2x = 86

x = 43.

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Other Questions
What made the colonists realize it was time (during the summer of 1776) to declare their independence Molecular koch's postulates are used to identify which characteristic of pathogens? The nurse asks a patient to smile, blow out his cheeks, raise his eyebrows, and close his eyes tightly. The nurse is assessing which cranial nerve The target heart rate zone is the range of exercise intensity that allows you to stress your cardiorespiratory system for optimal benefit without ______. A function can have ________ parameters, and it can have either zero or one return value(s). The lengths of three sides of a triangle are 2x + 1/5 feet , 4x + 1/2 feet , and x+ 1 5 . what is the perimeter of the triangle? the drondown menuto complete the answer Determine whether each of the concentrations causes an increase or decrease in the activity of the electron transport chain. Tableau is used to create dynamic and interactive visualizations. Dynamic visualizations can change over time. What does it mean for a visualization to be interactive? Explain why the middle portion of ship shows more rust than either the top most or the bottom most part Charlotte is solving the following equation for X (x+3)^2-10=2 her first steps are given below (x+3)^2=12 x+3= + square root 12 Which inequality can be used to explain why these three segments cannot be used to construct a triangle?AC + AB > CBAC + CB < ABAC + CB > ABAC + AB < CB The formula m =1/2(a+b) gives the mean M of two numbers a and ba.express a in terms of m and bb.hence find a when m=19 andb=23 Which finding(s) is a major criterion used to help the health care provider diagnose acute rheumatic fever in a child Sasha's home has a current fair market value of $193,200. She has a first mortgage of $160,000 and second mortgage of $13,200. What is her current equity I am stuck on the answer for this question Have the colonists tired to work with the King of England and the EnglishGovernment? Please provide an example from the reading (2-3 sentencesminimum). What is the midpoint of the segment shown below? The function y=f(x)is graphed below. What is the average rate of change of the function f(x) on the interval 7x8? There are three individual firms in happy Valley the government wants to reduce pollution and 90 units so it gives each firm 30 tradable pollution permits Farme has 30 units at five dollars firm be has 45 units at $10 and firm C has 60 units at $20 because firm blank has the highest cost of reducing pollution by one unit it would like to blank another firm because firm blank has the lowest cost of reducing pollution by one unit Participants took part in a study to determine the number of consumed beers it would take to affect their ability to walk in a straight line. In this example, the dependent variable is __.