trobbie817

05.05.2020 • 

Mathematics

Jim Tree bought a home with a 10% adjustable rate mortgage for 20 years. He paid $9.66 monthly per thousand on his original loan. At the end of 2 years he owes the bank $55,000. Since interest rates have risen to 12%, the bank will not renew the mortgage at this rate, or Jim can pay the bank $55,000. He decides to renew and will now pay $11.02 monthly per thousand on his loan. For comparison purposes the small amount of principal that has been paid during the 2 years can be ignored.

Old monthly payment =
New monthly payment =
Percent increase in monthly payment (to nearest tenth) =

Ответ:

BradFarquharson472

26.01.2022

Mathematics

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9.66; 11.02; 14.1%

Step-by-step explanation:

9.66 (Given)

11.02 (Given)

11.02/9.66 = 1.14078674948 --> +14.1%

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Ответ:

CrunchyBreadstick

01.08.2021

Mathematics

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The original selling price is $517.46

Step-by-step explanation:

Let the initial selling price be $q

After marking down 10%,

Final Selling price  = Selling price(1-10%)

Selling price = q – 10% of q = q – 0.1q = 0.9q

After marking 30%

Final Selling price  = Selling price(1-10%)

Selling price = 0.9q – (0.3*0.9q) = 0.9q – 0.27q = 0.63q

Therefore,

0.63q = 326

Therefore, the original selling price is $517.46

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