Mathematics High School

Marlin obtains a 20/6 balloon mortgage to finance $305,500 at 5.75%. How much principal and interest will he have already paid when his

balloon payment is due?

$188,267.86

$152,285.77

$154,430.64

$249,256.48

Answers

Answer 1

Answer:

$154,430.64

Step-by-step explanation:

The first step is for us to determine the monthly payment as follows:

Mortgage amount can be found as the present value of all monthly payments, hence, using the formula below we can determine monthly payment as follows:

mortgage amount=monthly payment*(1-(1+r)^-n/r

mortgage amount=$305,500

monthly payment is unknown

r=monthly interest rate=5.75%/12=0.4791667%

n=number of monthly payments in 20years=20*12=240

305,500=monthly payment*(1-(1+0.4791667% )^-240/0.4791667%

305,500=monthly payment*(1-0.31750756 )/0.0047916670

305,500=monthly payment*0.68249244 /0.0047916670

monthly payment=305,500*0.0047916670 /0.68249244

monthly payment=$2,144.87  

Number of months that payments have been made=6*12=72

total paid=$2,144.87*72

total paid for 6 years=$ 154,430.64  

Related Questions

Keenan measured a community college and made a scale drawing. The scale of the drawing
was 1 centimeter : 9 meters. If the actual width of a building at the college is 90 meters, how
wide is the building in the drawing?

Answers

Answer:

The answer is 10 centimeters

Step-by-step explanation:

If 1 cm on the map = 9 meters. 10cm would be 90 meters. Hope this helps!

Answer:

drawing = 10 cm for the width.

Step-by-step explanation:

1 cm / 9 m = x / 90 m

If the meters go on the bottom in the left ratio, they must go on the bottom on the right ratio. In this case the cm is the unknown and it must go on the top with no units.

Cross multliply

9 m * x = 90m * 1cm        

Divide by 9

9m * x/ 9m = 90 m * 1 cm / 9m       Notice the units (m) cancel out

x = 10 cm

What is the factored form of this expression? 7- 12x+36 А. (x-12)(x-3) B. (x-6)(x+6) c. (x+6) 2 D. (x-62​

Answers

Answer:

Step-by-step explanation:

factored form of x^2 - 12x + 36

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Answers

Answer: 10 (ten) is an even number

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Step-by-step explanation:

Two cars travel the same distance. Car 1 travels at 50 mph and car 2 at 65 mph. If it takes car 1 one more hour to travel than car 2, how far did the cars travel?

Answers

216 2/3 mi distance they travelled

PLEASE HELP ME ASAP!!! (you will get 20 points!!!)

Name the longest side of ∠DEF.
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Answers

Answer: the longest side of a triangle is always the opposite side of the largest angle

Step-by-step explanation:

Line segment DF ☺️

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Answers

Answer:

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Step-by-step explanation:

I think this is it. Sorry if it's wrong

Answer:

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Step-by-step explanation:

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Answers

Answer:

1 1/3 items

Step-by-step explanation:

Total number of items = 4 items

Total number of people = 3 people

4 items = 3 people

To know the number of items each person will get, we can write;

x items = 1 person

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x = 4/3

Express as mixed fraction;

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Hence each person will receive 1 1/3 items

fadil sells televisions. He earns $15 a fixed amount for each television and an additional if the buyer gets an extended warranty. If sells 12 televisions with extended​ warranties, he earns 1140
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剪水門鐺活成菇函驗啊卜蠍蠍蠍蠍數蠍中金白白白白白白白白白自

3.
Susan has a balance of $110 in her school lunch account, and she spends $6 per day for
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Answers

Answer:

i may be entirely wrong but evelyn has more days

susan=18

evelyn=20.75 or 21 if rounded

PLEASE HELP. WILL GIVE BRAINLIEST AND WORTH 60 POINTS.

Solve each equation using substitution. Answers are on the right and questions are on the left.

Answers

Answer:

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Step-by-step explanation:

Q1.

y = -1/3x - 1x + 3y = -12

Solution

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Q2

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Is this the right answer correct me if im wrong what is m

Answers

I think that is correct !!

If 7x−6y=2 and −2x−y=3 are true equations, what would be the value of 5x−7y?

Answers

Answer:

-55

Step-by-step explanation:

7x-6y=2

-2x-y=3

by substitution method

y=3+2x

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HELP GUYS PLS THANK YOU

Answers

Answer :

Step-by-step explanation:

yellow cab company because they charge less for miles

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x
B
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Answers

Answer:

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Step-by-step explanation:

Answer:

10

Step-by-step explanation:

What is the solution to the system of equations?

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Answers

Answer:

1. x = 10 , y = 2

Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

Answer:

D

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Answers

Answer:

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Answers

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Answers

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Answers

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(PLEASE HELP ME I BEG OF YOU)
Kevin and cannot eat on $135 a month salary there any commission for each sale they make and the ratio of Kevin and Kenneth commission is 3:4 if they sell Products worth $610 each in March and Kevin Owens at 12% commission how much did each of them??

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B. Kevin makes $208.20

C. Kevin makes $73.20

D. They both make $440.00

E. Kenneth makes $219.60

Answers

Answer:

I think the asnwer A or B !!

Step-by-step explanation:

I think it’s A or B if u look at it

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Answers

Answer:

60

Step-by-step explanation:

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Answers

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Answers

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Answer:

25,000

Step-by-step explanation:

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Answers

Answer:

560, 600, 620, 630, 640, 650

Step-by-step explanation:

Just counted from 10, I guess.

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

1100

Step-by-step explanation:

Answer:

1100 millimeters

Step-by-step explanation:

WILL GIVE BRAINLIEST!!!!!!
Your grandfather would like you to invest in his company. He guarantees that if you invest in the stock of his company you will earn 15% on you r money every year. If you invest $100 and your grandfather is right, how much money will you have after 20 years? Round to the nearest cent.

Answers

Answer:

i=0.099

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PV of perpetuity

PV=11309/0.099

=$114,232.32

hope that helps

pls mark brainliest <3

Answer:

ok so i think it is i=0.099

Step-by-step explanation:

i took the test. the test said it was that answer so yea

2, 8, 9, 20, 22, 25, 5
Mean ??
Mode ??
Median ??

Answers

Answer:

the mean is the sum of them all divided by the number of terms.

mean: 13

the mode is the element that occurs MOST in the data set.

mode: none

the median  is the middle value of all of the numbers.

median: 9

Answer:

Step-by-step explanation:

Mean:91/7=13

Mode:no mode

Median:9

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