Cassidy is planning to obtain a loan from her bank for $210,000 for a new home. The bank has approved Cassidy's loan at a fixed annual interest rate of 2.7% compounded monthly for 15 years. Use the formula to determine Cassidy's approximate monthly payment.
P = Fp(t)/1 - (1+t)^-n
Answer choices:
A. Cassidy’s approximate monthly payment will be $5,717.26
B. Cassidy’s approximate monthly payment will be $1,721.15
C. Cassidy’s approximate monthly payment will be $1,474.58
D. Cassidy’s approximate monthly payment will be $1,420.11

Answers

Answer 1

Answer:

$1,420.11

Step-by-step explanation:

I just took the test and got it right

Answer 2

Cassidy's approximate monthly payment is $1420.11 if Cassidy is planning to obtain a loan from her bank for $210,000 for a new home option (D) is correct.

What is a loan amortization schedule?

It is defined as the systematic way of representing of loan payments according to the time in which the principal amount and interest are mentioned in a list manner

It is given that:

Cassidy is planning to obtain a loan from her bank for $210,000 for a new home.

A fixed annual interest rate of 2.7% compounded monthly for 15 years.

The formula is:

[tex]P=\rm \dfrac{Fp(i)}{1-(1+i)^{-1}}[/tex]

Plug all the values in the above formula:

[tex]P=\rm \dfrac{210000(2.7\%/12)}{1-(1+(2.7\%/12))^{-15\times12}}[/tex]

After calculating:

P = $1420.11

Thus, Cassidy's approximate monthly payment is $1420.11 if Cassidy is planning to obtain a loan from her bank for $210,000 for a new home.

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Related Questions

A rug shaped like a rectangle is 2.5 meters long and 1.8 meters wide what is the perimeter in meters of the rug

Answers

Answer:

P = 8.6 m

Step-by-step explanation:

Given that,

The length of a rectangle = 2.5 m

The width of a rectangle = 1.8 m

We need to find the perimeter of the rug. The perimeter of a rectangle is given by :

P=2(l+b)

= 2(2.5+1.8)

= 8.6 m

So, the perimeter of the rug is 8.6 m.

The sum of nineteen and four times a number equals 39. Suppose x represents the unknown number. Translate this problem into a mathematical statement.

Answers

Answer:

19 + 4x = 39

Step-by-step explanation:

Quadrilateral ABCD is a rhombus.
AD = 13 cm & BD = 24 cm,

find AC

Answers

Answer:

64

Step-by-step explanation:

Which of the following can a seismograph not show scientists?

Answers

It can’t tell you when exactly in time when the earthquake is going to occur.

A triangle has sides measuring 2 inches and 7 inches. If x represents the
length in inches of the third side, which inequality gives the range of possible
values for x?
A. 25x37
B. 5 sxs 9
C. 2 D. 5< x < 9

Answers

Answer:

its d.

Step-by-step explanation:

the other guy is wrong

Using sides of a triangle rule, the inequality gives the range of possible values for x is  5 < x < 9.

What is sides of a triangle rule?

The sides of a triangle rule asserts that the sum of the lengths of any two sides of a triangle has to be greater than the length of the third side.

Given that two sides of triangle are 2 and 7 inches.

Let the third side be x inches.

x < 2+7 ⇒ x < 9

7 < 2 + x ⇒ x > 5

2 < 7 + x, which is true for any positive value of x.

Thus,  5 < x < 9.

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a square has an area of 1 square unit what is the length of the square

Answers

Answer:

The length is one

Step-by-step explanation:

The formula to find the area of aa square is B*H. This means to solve, you do 1*1, since the base and height are both 1, and 1*1=1

What is the sum of
1
8
+
5
16
+
3
8
?

Answers

Answer:

41

Step-by-step explanation:

Answer:

18+516+38=18+554=572

Timothy purchased a computer for $1,000.


The value of the computer depreciates by 20% every year.


This situation represents [a.) exponential decay, b.) exponential growth]


The rate of growth or decay, r, is equal to [c.) 0.8, d.) 1.2, e.)0.2

year.


So the value of the computer each year is [f.) 20 %, g.) 80%, h.) 120%] of the value in the previous year.


It will take [i.) 3, j.) 2, k.) 4, l.) 5.] years for the value of the computer to reach $512.

Answers

Answer:

This situation represents [a.) exponential decay

The rate of growth or decay, r, is equal to  c.) 0.2

So the value of the computer each year is g.) 80% of the value in the previous year.

It will take [i.) 3 years for the value of the computer to reach $512.

Step-by-step explanation:

Since the value depreciates each year, it represents exponential decay.

The rate of growth or decay, r, is equal to

Depreciates 20%, so r = 0.2.

So the value of the computer each year is ... of the value in the previous year,

Depreciates 20%, so it is 100% - 20% = 80% of the value in the previous year.

It will take x years for the value of the computer to reach $512.

The value of the computer after x years is given by:

[tex]V(x) = V(0)(1-r)^x[/tex]

In which V(0) is the initial value and r is the decay rate. So

[tex]V(x) = 1000(1-0.2)^x[/tex]

[tex]V(x) = 1000(0.8)^x[/tex]

We want to find x for which V(x) = 512. So

[tex]V(x) = 1000(0.8)^x[/tex]

[tex]512 = 1000(0.8)^x[/tex]

[tex](0.8)^x = \frac{512}{1000}[/tex]

[tex](0.8)^x = (0.512)[/tex]

Applying log to both sides:

[tex]\log{(0.8)^x} = \log{(0.512)}[/tex]

[tex]x\log{0.8} = \log{(0.512)}[/tex]

[tex]x = \frac{\log{0.512}}{\log{0.8}}[/tex]

[tex]x = 3[/tex]

So it will take 3 years.

sarah spent a total of 10 on oranges and apples at the supet marke
t. if she spent 3 dollars less for oranges than she did on apples how much did sarah spend on oranges​

Answers

oranges = x dollars

apples = x+3 dollars


An equation is


Oranges + Apples = 10 dollars, or

x + (x+3) = 10

2x = 10-3

2x = 7

x = 7/2 = 3.5


ANSWER. Sara spent $3.50 for oranges.
Is this good ?
$3.50 on the oranges rather than apples

PLEASE HELP YOU WILL GET BRAINLIEST IF YOU GET THIS RIGHT FIRST

Answers

The answer is angle CED is 48.

Helpp
(Show ur work please)
This is law of cosine

Answers

Answer:

13.3

Step-by-step explanation:

[tex] a^2 = b^2 + c^2 - 2bc \cos A [/tex]

[tex] a^2 = 8^2 + 18^2 - 2(8)(18) \cos 43^\circ [/tex]

[tex] a^2 = 64 + 324 - 288(0.73135) [/tex]

[tex] a^2 = 388 - 210.6299 [/tex]

[tex] a^2 = 177.370 [/tex]

[tex] a = \sqrt{177.370} [/tex]

[tex] a = 13.318 [/tex]

Answer: 13.3

After four rounds, 74 teams are eliminated from a robotics competition. There are 18 teams remaining. Write and solve an equation to find the number of teams t that started the competition.

Answers

It is 92 .............

Can someone help me please

Answers

Answer:

38 degrees

Step-by-step explanation:

just know

A club’s first meeting was attended by 72 people. Nine times as many people went to the first meeting than the second meeting. How many people attended the second meeting?

Answers

Answer:

8 people attended the second meeting.

Step-by-step explanation:

Given that:

Number of people who attended the first meeting = 72

Let,

x be the number of people who attended second meeting.

9 times people of second meeting = Number of people who attended first meeting

9x = 72

Dividing both sides by 9

[tex]\frac{9x}{9}=\frac{72}{9}\\x=8[/tex]

Hence,

8 people attended the second meeting.

John needs to purchase a table for his room. John measured the space available as 4 ft. the actual measurement was 2.5 ft. what is John percent error.​

Answers

Answer:

62.5%

Convert fraction (ratio) 2.5 / 4 Answer: 62.5%

Step-by-step explanation:

Creating a ratio to represent the amount he was specifically off by, which inherently gives you John's percent error.

Which statement has a false converse?

A If a quadrilateral is a rectangle, then the diagonals of the quadrilateral are

congruent.

B If a quadrilateral has diagonals that bisect each other, then the quadrilateral is a

parallelogram

C if a quadrilateral is a rectangle, then all angles of the quadrilateral are right angles.

D If a quadrilateral is a parallelogram, then both pairs of opposite sides of the

quadrilateral are congruent.

Answers

Answer:

B If a quadrilateral has diagonals that bisect each other, then the quadrilateral is a parallelogram

Explanation:

A rectangle just like a square has diagonals that bisect each other and they are congruent( two lines are congruent if they are equal). A parallelogram is a quadrilateral with parallel sides and when its diagonals intersect, they are congruent too. Therefore a rectangle with diagonals that bisect each other is not necessarily a parallelogram.

mams buy 3 large sandwiches to serve at a picnic. 9 people come to the picnic. Show 3 different ways to cut the sandwich so that each person gets an equal share.

Answers

Cut each sandwich into thirds.

Hopefully, your friends aren't very hungry

Which type of transformation is described by (x, y)
->
+ (x + 3, y — 2)?

Answers

Answer:

(x, y) → (x+3, y-2) means Translation 3 units left and 2 units down.

Step-by-step explanation:

Given the rule of transformation:

(x, y) → (x+3, y-2)

If we move horizontally 3 units to the right, 3 is added to the x-coordinate of any given point, and then 2 units down.

In other words,

(x, y) → (x+3, y-2) means Translation 3 units left and 2 units down.

For example,

Let say if we have the point A(4, 5)

Using the translation rule:

(x, y) → (x+3, y-2)

A(4, 5) → A'(4 + 3, 5 - 2) → A'(7, 3)

Therefore, the new position of A(4, 5) after translating 3 units left and 2 units down would be: A'(7, 3)

Installation of a certain hardware takes a random amount of time with a standard deviation of 5 minutes. A computer technician installs this hardware on 64 different computers, with the average installation time of 42 minutes. Compute a 95% confidence interval for the mean installation time. Explain your interval in context.

Answers

Answer:

The 95% confidence interval for the mean installation time is between 40.775 minutes and 43.225 minutes. This means that for all instalations, in different computers, we are 95% sure that the mean time for installation will be in this interval.

Step-by-step explanation:

We have that to find our [tex]\alpha[/tex] level, that is the subtraction of 1 by the confidence interval divided by 2. So:

[tex]\alpha = \frac{1-0.95}{2} = 0.025[/tex]

Now, we have to find z in the Ztable as such z has a pvalue of [tex]1-\alpha[/tex].

So it is z with a pvalue of [tex]1-0.025 = 0.975[/tex], so [tex]z = 1.96[/tex]

Now, find the margin of error M as such

[tex]M = z*\frac{\sigma}{\sqrt{n}}[/tex]

In which [tex]\sigma[/tex] is the standard deviation of the population and n is the size of the sample.

[tex]M = 1.96*\frac{5}{\sqrt{64}} = 1.225[/tex]

The lower end of the interval is the sample mean subtracted by M. So it is 42 - 1.225 = 40.775 minutes

The upper end of the interval is the sample mean added to M. So it is 42 + 1.225 = 43.225 minutes

The 95% confidence interval for the mean installation time is between 40.775 minutes and 43.225 minutes. This means that for all instalations, in different computers, we are 95% sure that the mean time for installation will be in this interval.

The 95% confidence interval for the mean installation time is (40.775, 43.225) and this can be determined by using the formula of margin of error.

Given :

Standard deviation is 5 minutes. Sample size is 64.Mean is 42 minutes.95% confidence interval.

The following steps can be used in order to determine the 95% confidence interval for the mean installation time:

Step 1 - The formula of margin of error can be used in order to determine the 95% confidence interval.

[tex]M = z \times \dfrac{\sigma}{\sqrt{n} }[/tex]

where z is the z-score, [tex]\sigma[/tex] is the standard deviation, and the sample size is n.

Step 2 - Now, substitute the values of z, [tex]\sigma[/tex], and n in the above formula.

[tex]M = 1.96 \times \dfrac{5}{\sqrt{64} }[/tex]

[tex]M = 1.225[/tex]

Step 3 - So, the 95% confidence interval is given by (M - [tex]\mu[/tex], M + [tex]\mu[/tex]) that is (40.775, 43.225).

The 95% confidence interval for the mean installation time is (40.775, 43.225).

For more information, refer to the link given below:

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A laundromat charges $1.50 to wash and $1.25 to draw a load of laundry.
Choose all of the points that would lie on a graph representing the total cost, y, to wash and dry x loads of laundry:

A. (2, 2.75)
B. (2, 5.50)
C. (3, 6.75)
D. (3, 9.75)
E. (4, 10.25)
F. (4, 11.00)

Answers

Answer:

High possibility it is A, C, D. I apologize if wrong

Step-by-step explanation:

Answer:B, C, E

Step-by-step explanation:

A bacterial culture is known to grow at a rate proportional to the amount present. After one hour, there are 1000 strands of bacteria and after four hours, 3000 strands. Find an expression for the number of strands present in the culture at any time t. What is the initial number of strands

Answers

Answer:

The expression is: [tex]P(t) = 693e^{0.3662t}[/tex]

The initial number of strands is 693

Step-by-step explanation:

A bacterial culture is known to grow at a rate proportional to the amount present.

This means that the bacterial model can be modeled by the following equation:

[tex]P(t) = P(0)e^{rt}[/tex]

In which P(0) is the initial population, and r is the growth rate.

After one hour, there are 1000 strands of bacteria

This means that [tex]P(1) = 1000[/tex], So

[tex]P(0)e^{r} = 1000[/tex]

[tex]P(0) = \frac{1000}{e^{r}}[/tex]

After four hours, 3000 strands.

This means that P(4) = 3000. So

[tex]P(0)e^{4r} = 3000[/tex]

Since [tex]P(0) = \frac{1000}{e^{r}}[/tex], we have that:

[tex]\frac{1000}{e^{r}}e^{4r} = 3000[/tex]

[tex]\frac{e^{4r}}{e^{r}} = \frac{3000}{1000}[/tex]

[tex]e^{4r-r} = 3[/tex]

[tex]e^{3r} = 3[/tex]

[tex]\ln{e^{3r}} = \ln{3}[/tex]

[tex]3r = \ln{3}[/tex]

[tex]r = \frac{\ln{3}}{3}[/tex]

[tex]r = 0.3662[/tex]

The initial population is:

[tex]P(0) = \frac{1000}{e^{0.3662}} = 693[/tex]

The expression is:

[tex]P(t) = 693e^{0.3662t}[/tex]

The equation becomes [tex]y=694(1.44)^t[/tex]. The initial number of strands is 694.

An exponential growth is in the form:

y = abˣ

where y, x are variables, a is the initial value of y and b is the multiplier.

Let y represent the number of strands after t hours.

After one hour, there are 1000 strands of bacteria:

1000 = ab¹

ab = 1000    (1)

After four hour, there are 3000 strands of bacteria:

3000 = ab⁴

ab⁴ = 3000    (2)

Dividing equation 2 by 1:

b³ = 3

b = 1.44

ab = 1000

a = 1000/b = 1000/1.44 = 694

The equation becomes [tex]y=694(1.44)^t[/tex]

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What is the constant proportionally of the graph
Help me

Answers

Answer:

The constant proportionally of the graph is:

k = 8

Step-by-step explanation:

We know that when 'y' varies directly with 'x', we get the equation

y ∝ x

y = kx

k = y/x

here 'k' is called the constant of proportionality.

From the graph, it is clear that:

at x = 0.5, the value of y = 4

so substituting x = 0.5 and y = 4 in the equation

k = y/x

k = 4/0.5

k = 8

at x = 1, the value of y = 8

so substituting x = 1 and y = 8 in the equation

k = y/x

k = 8/1

k = 8

Therefore, the constant proportionally of the graph is:

k = 8

3. Mandy obtains a $155,000 20/6 balloon mortgage with a rate of 4.25%. What will her monthly payments be? (2 points)

O $959.81

O $1044.46

O $1110.47

$1225.74

Answers

Answer:

$279.98

Step-by-step explanation:

A 20/6 balloon payment means loan amortization is for 20 years and constant payments is for 6 years after which balloon payment is due.

The formula to calculate her constant payments based on a 15 year amortization plan is

A= P × r × r(1+r)^n/(1+r)^n-1

Where A = constant monthly payments for the 6 year period

r= interest rate

P= mortgage value loan

n= number of months =20×12=240 payments

Substitute values in the formula:

A= $155000× 0.0425×0.0425(1+0.0425)^240/(1+0.0425)^240-1

A= $279.98

To calculate what she would pay before balloon payment is due, we simply multiply her monthly payments $279.98 by number of payments 240

ACTIVITY 1
Directions: Find the unknown principal P, rate r, time t, and simple
interest Is by completing the table. Use separate sheet/s of paper for your
answer.
Principal (P)
Rate (T)
Time (t)
8%
15
2%
5
Simple Interest
(Is)
(1)
10,000
3,600
175,500
10,000
(2)
360,000
500,000
2
(3)
10.5%
Activity 2
Directions: Find the unknown principal P, maturity value, and
compound interest Ic by completing the table. Use separate sheet/s of paper
for your answer.
Maturity Value
Principal (P) Rate(r) Time(t)
Compound
Interest (Ic)
(1)
10,000
(3)
8%
2%
15
5
(2)
50,000​

Answers

Answer:

500,000

2

(3)

10.5%

Activity 2

Directions: Find the unknown principal P, maturity

△ abc is an equilateral triangle, bc must be 2 cm True or False

Answers

False. Hope this helps

PLEASE HELL I NEED THIS ONE FAST PLEASE

Which statement is true about the decimal expansion of ? 3/7
O A. It is a rational number because it is a terminating decimal.
○B. It is an irrational number because it is not a terminating decimal.
○C. It is a rational number because after reaching a remainder of 3 for the second time the quotient will start repeating.
O D. It is an irrational number because after reaching a remainder of 3 for the second time the quotient will start repeating.​

Answers

Answer:

A is the answer because divide 7 divided by 3 a

< 1 2 The circumference of a circle is 47.1 feet. What is the diameter of the circle? ​

Answers

Step-by-step explanation:

[tex]47.1 = 2\pi \times r \\ r = \frac{47.1}{2\pi} = 7.4962996 \\ diameter = 2 \times r \\ = 14.99 = 15 \: feet[/tex]

Find the perimeter of a triangle with side lengths: (y + 5) ft, (3y + 5) ft, and (4y - 3) ft.

Answers

Answer:

8y + 7

Step-by-step explanation:

add them: y + 5 + 3y + 5 + 4y - 3 = 8y + 7

please help meeeeeeeeeee

Answers

Answer:

area of trapezoid is  [tex]\mathbf{Area=(\frac{4+8}{2})\times 6}[/tex]

Step-by-step explanation:

We have

a = 4 cm

b = 8cm

h = 6cm

We need to find area of trapezoid

The formula used is: [tex]Area=\frac{a+b}{2}\:h[/tex]

Putting values and finding expression:

We will not be solving the expression as question required just to find the expression by putting respective values.

[tex]Area=\frac{a+b}{2}\:h\\Area=(\frac{4+8}{2})\:\times 6[/tex]

So, area of trapezoid is  [tex]\mathbf{Area=(\frac{4+8}{2})\times 6}[/tex]

42 % of what number is .21

Answers

Answer:

0.5

Step-by-step explanation:

0.21=42%

0.21/42=1%

0.005=1%

0.005 x 100 = 100%

0.5=100%

0.5

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