![kelleemaebarnha](/avatars/44198.jpg)
kelleemaebarnha
23.08.2019 •
Mathematics
Afamily has a $93,411, 20-year mortgage at 5.4% compounded monthly. find the monthly payment. also find the unpaid balance after 5 years and after 10 years the monthly payment is so. (round to two decimal places.)
Solved
Show answers
More tips
- W Work and Career 10 Best Ways To Find A Job: Tips To Land Your Dream Job...
- L Leisure and Entertainment How to Choose a Program for Cutting Music?...
- A Auto and Moto How to choose the right drive for your BMW...
- L Leisure and Entertainment How to Choose the Perfect Gift for Men on February 23rd?...
- H Health and Medicine How to Treat Whooping Cough in Children?...
- H Health and Medicine Simple Ways to Lower Cholesterol in the Blood: Tips and Tricks...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
- A Art and Culture When Will Eurovision 2011 Take Place?...
Answers on questions: Mathematics
- M Mathematics Find the x-intercepts of the parabola with vertex (-7,45) and y-intercept (0,-200). Write your answer in this form: (X1,71),(x2,42). If necessary, round to the nearest hundredth....
- M Medicine Thuế là gì? ahiihihihihihihihihi...
- M Mathematics Write the equation of the line with slope = -3 and passes through (2,7)...
- B Biology What is the name for a place where a particular organism lives? O A. Community O B. Habitat O C. Ecosystem O D. Species...
Ответ:
Step-by-step explanation:
1. The relevant formula for computing the monthly payment A from principal P and interest rate r for loan of t years is ...
A = P(r/12)/(1 -(1 +r/12)^(-12t))
Filling in the numbers and doing the arithmetic, we get ...
A = $93,411(0.054/12)/(1 -(1 +0.054.12)^-(12·20)) ≈ $637.30
__
2. The relevant formula for computing the remaining balance after n payments of amount p on principal P at interest rate r is ...
A = P(1 +r/12)^n -p((1 +r/12)^n -1)/(r/12)
Filling in the given values and doing the arithmetic, we get ...
A = $93,411(1.0045^60) -637.30(1.0045^60 -1)/(0.0045) ≈ $78,505.48
__
3. The same formula with n=120 gives ...
A = $93,411(1.0045^120) -637.30(1.0045^120 -1)/(0.0045) ≈ $58,991.59
Ответ:
135
Step-by-step explanation:
took it on edg2020