11. Twyla and Tony have a 30/5 balloon mortgage for $389,900 with a rate of 4.85%. How much will they pay in interest over the life of the loan? (3 points)

O $81,373.41

$92,263.82

O $107,536.50

O $121,390.73

Answers

Answer 1

Answer:

Explanation:

Twyla and Tony with a balloon mortgage of 30/5 will make constant payments over the space of 5 years and then complete the bulk balloon payment for 25 years remaining.

Given mortgage loan value of $389900

Interest rate of 4.85%

We are asked to calculate the interest over the life of the loan.

We will calculate interest by calculating constant payments over the period of 5 years before balloon payment is due and adding them together then subtracting the mortgage loan given $389900

Formula for constant payments :

A= P×r×r(1+r)^n/(1+r)^n-1

Where A= constant/monthly payments

r= interest rate on the mortgage loan

n= number of payments = 30×12= 360

P= mortgage loan given

A= $389900×0.0485×0.0485(1+0.0485)^360/(1+0.0485)^360-1

=$389900×0.0485×1231340.79/25388468.94

=$389900×0.0485×0.04850

A= $917.142

Payment for five years(with interest)= $917.142×60= $55028.52

Calculate balloon payment:

FV= PV(1+r)^n - P((1+r)^n-1/r)

Where FV= future value of balloon payment

PV= initial loan given

r= interest rate on loan

n= number of payments

P= monthly payments

Substitute:

FV= $389900(1+0.0485/12)^60-917.142((1+0.0485/12)^60-1/0.0485/12)

=$389900×1.2738-917.142(0.2738/0.004041)

=$389900×1.2738-917.142×67.756

= 496654.62-62141.87

FV = $434512.75

Therefore total payment made with interest over the life of the loan= balloon payment+ constant payments for five years= $434512.75+$55028.52

=


Related Questions

Determine whether the given relation is an implicit solution to the given differential equation. Assume that the relationship does define y implicitly as a function of x and use implicit differentiation.
y - ln y = x^2 + 1, dy/dx = 2xy/y - 1
x^2 + y^2 = 4, dy/dx = x/y
e^xy + y = x - 1, dy/dx = e^-xy - y/e^-xy + x

Answers

Answer:

dont know

Step-by-step explanation:



please help me

is importe ​

Answers

Answer:

11/24

Step-by-step explanation:

change it to :

20/24-9/24

then solve

Answer:

11/24

Step-by-step explanation:

10/12 - 3/8

10/12 + -3/8

5/6 + -3/8

20/24 + -9/24

20 + -9 / 24

= 11/24

A package of 11 slices of cheese costs $2.97. How much would a package with 18 slices cost at the same price per slice?

Answers

Answer:

$4.86

Step-by-step explanation:

2.97/11= .27   .27x18= $4.86

Can someone please tell me the answer ..

Answers

Answer:

148

Step-by-step explanation:

Please Help ASAP

1. Andrew and Griffin both worked hard over the weekend. Together they earned a total of $65. Griffin earned $15 more than Andrew.
(a) Write a system of equations for the situation. Use a for the amount Andrew earned and g for the amount Griffin earned.
(b) Graph the equations in the system.
(c) Use your graph to estimate how much each person earned. (You must solve by graphing, other solving methods will not earn credit)

Answers

Answer:

2x-15=65

Step-by-step explanation:

You have to subtract 15 dollars from 65 because it is extra money that Griffin had earned. Now you are left with 40 so now you would divided 2 since its both Griffin and Andrew. At the end, Griffin earned 35 dollars and Andrew earned 20 dollars.

s'ams mother is twice as old as sam in 12 years sam will be as old as his mother was 12 years ago how old are sam and his mother now? sam is?years old his mother is ? years old

Answers

Answer:

Sam is 24 years old and his mother is 48 years old.

Step-by-step explanation:

Equations

Let's call

x   = Sam's current age

Since Sam's mother is twice as old as Sam:

2x = Sam's mother current age

x + 12 = Sam's age in 12 years

2x - 12 = Sam's mother age 12 years ago

These two last expressions are equal:

x + 12 = 2x - 12

Subtracting x and adding 12:

x = 24

2x = 48

Sam is 24 years old and his mother is 48 years old.

Answer:

Sam is 24 and his mom is 48

Step-by-step explanation:

What is the mean of the data set 14, 12, 23, 15?

Answers

Answer:

16

Step-by-step explanation:

(14+12+23+15)÷4=16

Answer:

16

Step-by-step explanation:

Hope this help


The amount of cases in Gotham city is 540
people for the first 12 of 2020. In July, a spike at the rate
of 5.2 people for each day in the month hits. Additionally, the
joker has infected all of Arkham Asylum's 225 patients with the
virus. What month will you hit 1,000 cases of cases in Gotham?

Answers

Answer: October, the 10th month

Step-by-step explanation:

540/12 = 45[with this in mind , we can assume that this is how many people get infected per month, except for July, and some factors.]

July is special for it not only has the specific unqiue rate of 5.2 infections per day. with this in mind, lets multiply....

5.2 x 31 = 161.2

And to top it off, we have another 225 infections to consider.

So with consideration of 161.2, 225, 540, and the fact that 45 people get infected on an average month, lets add....

161.2 + 225 + 540 = 926.2

926.2 + 45 = 971.2

971.2 + 45 = 1016.2

It only took until the 10th month of october to hit 1000.

40 over 100 Simplify the fraction below (14 points)

Answers

Answer:

0.4

Step-by-step explanation:

40 divided by 100= 0.4


1. True or false: A function is a rule that assigns each input exactly one
output.
True
False

Answers

True a function is a rule that assigns each input exactly one output.

PLEASE HELP IM BEGGING PLEASE!!!!!!!!!!

Answers

Answer:

1. C.

2. B.

Step-by-step explanation:

Hope This Helps!!! : )

What value of x satisfies the conclusion of the mean value theorem for f(x) = ln(x3) over the interval [1, e2]?

Answers

Answer:

[tex]x \approx 3.195[/tex] satisfies the conclusion of the Mean Value Theorem for [tex]f(x) = \ln x^{3}[/tex] over the interval [tex][1,e^{2}][/tex].

Step-by-step explanation:

According to the Mean Value Theorem, for all function that is differentiable over the interval [tex][a, b][/tex], there is at a value [tex]c[/tex] within the interval such that:

[tex]f'(c) = \frac{f(b)-f(a)}{b-a}[/tex] (1)

Where:

[tex]a[/tex], [tex]b[/tex] - Lower and upper bounds.

[tex]f(a)[/tex], [tex]f(b)[/tex] - Function evaluated at lower and upper bounds.

[tex]f'(c)[/tex] - First derivative of the function evaluated at [tex]c[/tex].

If we know that [tex]f(x) = \ln x^{3} = 3\cdot \ln x[/tex], [tex]f'(x) = \frac{3}{x}[/tex], [tex]a = 1[/tex] and [tex]b = e^{2}[/tex], then we find that:

[tex]\frac{3}{c} = \frac{3\cdot \ln e^{2}-3\cdot \ln 1}{e^{2}-1}[/tex]

[tex]\frac{3}{c} = \frac{6\cdot \ln e-3\cdot \ln 1 }{e^{2}-1 }[/tex]

[tex]\frac{3}{c} = \frac{6}{e^{2}-1}[/tex]

[tex]c = \frac{1}{2}\cdot (e^{2}-1)[/tex]

[tex]c \approx 3.195[/tex]

[tex]x \approx 3.195[/tex] satisfies the conclusion of the Mean Value Theorem for [tex]f(x) = \ln x^{3}[/tex] over the interval [tex][1,e^{2}][/tex].

Answer:

C. 1/2(e^2-1)

Step-by-step explanation:

Edge AP Cal 2022

The price of an item has been reduced by 80%. The original price was $25. What is the price of the item now

Answers

Answer:

$5

Step-by-step explanation:

25-80%=5

Multiply (5 + 4i)(3+ 2i)

Answers

Answer:

45

Step-by-step explanation:

Answer:

7 + 22i

Step-by-step explanation:

hope this helps

You are building a doghouse for Fido, your loyal poodle. The blueprint of the doghouse uses a scale of 1 : 14. The floor of the doghouse measures 2" x 2.5" on the blueprint. b) The wood you are using for the floor costs $3.50 per square foot. How much will it cost to buy the material for the floor, assuming you can buy a piece exactly the right size? Show your work.

Answers

It’s 35 hope this helps and btw can someone help me what si the summary of chapter 27 book two roads

a. If a spinner is spun twice, are the events
independent or not independent? Justify
your answer.
2

Answers

If the spinner lands on one event, and it affects the probability of the other. Then it will be dependent. If the spinner lands on one of it and it does NOT effect the other event then it will be independent.

Look at the options and decide whether the choices may effect the other. If there are no options, then choose DEPENDENT because more than likely either choice will effect the outcome.

Photo attached please help

Answers

Answer:

Wow your on apec to?

Step-by-step explanation:

Wait could you show the whole question and the other answers please. I was going to say C.

I noticed a few others answers missing so I can't properly answer your question.

the answer is c i just did this if you dont believe me

there is a college student who wants to buy apples from the local store. the store generally sells about 5 apples for every 2 customers they serve. About how many apples will they sell in 6 hours if they serve 10 customers every hour?

Answers

125 apples sold after 6 hours

solve,,,,,,c-2= -1


please help !!!

Answers

c-2=-1
add two to both sides
c=1

Answer:

c=1

Step-by-step explanation:

add 2 to both sides

c-2+2=-1+2

then simplify

In an A-Frame house, the roof extends to the ground level. If each side of the roof meets the ground at a 62° angle, what will be the measure of the angle where the two sides of the roof meet?

Answers

Answer:

36 degrees

Step-by-step explanation:

Angles in a triangle add up to 180.

180-62-62=36

36 degrees

Step-by-step explanation:

how do you solve these problems?

a. (2/7)x + 5= -21 and

b. 1/2(18x-2)=0

Answers

A is x=-91
B is x=1/9

According to the table, if a married couple filing jointly earns $67,400, what will their taxes be to the nearest dollar?

A): $10,470
B): $10,590
C): $11,150
D): $11,320

Answers

Answer:

c

Step-by-step explanation:

Answer:

C

Step-by-step explanation:

Dont worry about what I type hear the answer is C

Neuroinvasive West Nile virus is a severe disease that affects a person's nervous system. It is spread by the Culex species of mosquito. In a particular region in 2010 there were 629 cases of neuroinvasive West Nile virus out of a total 1,021 cases in a sample, and there were 486 neuroinvasive cases out of a total of 712 cases in a sample in 2011. Is the 2011 proportion of neuroinvasive West Nile virus cases more than the 2010 proportion of neuroinvasive West Nile virus cases

Answers

Answer:

Yes, the 2011 proportion of neuroinvasive West Nile virus cases is more than the 2010 proportion of neuroinvasive West Nile virus cases.

Step-by-step explanation:

2010 proportion:

629 cases out of 1021. So the proportion is:

[tex]p = \frac{629}{1021} = 0.616[/tex]

2011 proportion:

486 cases out of 712. So the proportion is:

[tex]p = \frac{486}{712} = 0.683[/tex]

0.683 > 0.616 so the 2011 proportion of neuroinvasive West Nile virus cases is more than the 2010 proportion of neuroinvasive West Nile virus cases.

Answer:

for ppl with edge its c

Step-by-step explanation:

edge 2022

Suppose you are an expert on the fashion industry and wish to gather information to compare the amount earned per month by models featuring Liz Claiborne attire with those of Calvin Klein. The following is the amount ($000) earned per month by a sample of 15 Claiborne models:

$4.7 $3.8 $6.7 $3.8 $3.9 $4.2 $4.0 $4.0 $4.8 $3.1 3.1 5.5 3.4 6.1 4.9

The following is the amount ($000) earned by a sample of 12 Klein models.

$4.0 $3.8 $3.6 $2.5 $4.9 $5.2 $5.9 $4.9 $4.4 $3.6 5.1 4.7

Required:
a. Find the degrees of freedom for unequal variance test.
b. State the decision rule for 0.05 significance level: H0: μLC ≤ μCK; H1: μLC > μCK.
c. Compute the value of the test statistic.
d. Is it reasonable to conclude that Claiborne models earn more? Use the 0.05 significance level.

Answers

Answer:

24 ; Tstat > Tcritical ; 0.052 ; Fail to eject the Null

Step-by-step explanation:

Claiborne model:

$4.7 $3.8 $6.7 $3.8 $3.9 $4.2 $4.0 $4.0 $4.8 $3.1 $3.1 $5.5 $3.4 $6.1 $4.9

Sample size, n1 = 15

Using calculator :

Mean, m1 = 4.4

Standard deviation, s1 = 1.056

Klein model:

$4.0 $3.8 $3.6 $2.5 $4.9 $5.2 $5.9 $4.9 $4.4 $3.6 $5.1 $4.7

Sample size, n = 12

Mean, m2 = 4.38

Standard deviation (s) = 0.923

To obtain the degree of freedom for unequal variances test, use the Relation :

Degree of freedom (DF) = (s1²/n1 + s2²/n2)² / { [ (s1² / n1)² / (n1 - 1) ] + [ (s2² / n2)² / (n2 - 1) ] }

(1.056^2/15 + 0.923^2/12)^2 / {[(1.056^2/15)^2 / (15 - 1)] + [(0.923^2/12)^2 / (12 - 1)]}

0.0211226 / (0.0003947 + 0.0004581)

= 24.768527

df = 24 rounded down to the nearest whole number.

Decision region :

α = 1-0.95 = 0.05

Tdf, 0.05 = 1.711

Tcritical = 1.711

Reject Null, if Tstat > Tcritical

The t - test statistic :

(m1 - m2) / (s1²/n1 + s2²/n2)

(4.4 - 4.38) / sqrt(1.056^2 / 15 + 0.923^2 / 12)

0.02 / 0.3812301

= 0.0524617

= 0.052

Since, Tstat < Tcritical, we fail to reject the Null. It is not reasonable to conclude that Claiborne model earns more.

Find the value of each angle mentioned above.​

Answers

Answer:

36°, 42°, 72°, 102°, 108°

Step-by-step explanation:

Angles at a point = 360°

Therefore:

(3x - 6) + x + 3x + 2x + (x + 6) = 360°

Open parthenogenesis

3x - 6 + x + 3x + 2x + x + 6 = 360

Add like terms

10x = 360

Divide both sides by 10

x = 36

✔️Value of each angle:

Plug in the value of x in each expression

x = 36°

3x - 6 = 3(36) - 6 = 102°

3x = 3(36) = 108°

x + 6 = 36 + 6 = 42°

2x = 2(36) = 72°

Solve the system of equations –2 + y = 14 and -5x – 7y=10 by combining the
equations.
Submit Answer
attempt out of 2
o
PLEASE ANSWER!!

Answers

Answer:

Step-by-step explanation:

-2+y=14

-5x-7y=10

y=14+2

y=16

-5x-7(16)=10

-5x-112=10

    +112  +112

-5x=122

x=-24.4

Simplify (3^5)^2/3^-2

Answers

Answer:

the answer would be 531441

Step-by-step explanation:

Answer:

531441

Step-by-step explanation:

Please help me on this question 30 points on the line ​

Answers

Answer:

4(x-3) = 8

Step-by-step explanation:

4 times the difference would be 4(x-y), and we already know what y is, which is 3. Finally, the "is 8" means "equals 8" giving us our equation: 4(x-3) = 8.

Answer:

4(x-3) = 8

Step-by-step explanation:

2 1/2 divided by 3 4/6=?
Please help me.

Answers

Answer:

15/22

Step-by-step explanation:

3. Solve for x.
3r + 11
9x-14

Answers

combine the like terms (3x plus 9x) = 12x
(11 plus -19) = -8.

12x -8
divide both sides by 12 and you will have your answer!
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