The most Stanley can afford to pay per year in mortgage payments is $12,000, and his credit score is currently 544. According to the following table for a $150,000 mortgage, by how many points would he need to improve his credit score in order to take a mortgage for $150,000? FICO Score 720-850 700-719 675-699 620-674 560-619 500-559 Interest Rate 5.59% 5.71% 6.25% 7.40% 8.53% 9.29% Monthly Payment $860 $872 $924 $1,039 $1,157 $1,238 O A. 156 points OB. 131 points O C. 76 points O D. 14 points
Answers
The answer is not listed in the options. The credit score points are 170.
What is a credit score?To determine the answer, we need to find the interest rate and monthly payment associated with Stanley's credit score of 544.
Since Stanley's credit score is not listed in the table, we need to estimate the interest rate and monthly payment based on the information provided. Generally, the lower the credit score, the higher the interest rate and monthly payment.
Let's assume that Stanley's interest rate would be 10% and his monthly payment would be $1,000 based on his credit score of 544.
Using the table, we can see that for a $150,000 mortgage with a 10% interest rate, the monthly payment would be $1,316.
Now, we need to determine how much Stanley can afford to pay per year in mortgage payments, which is $12,000. We can divide $12,000 by the monthly payment of $1,316 to get the number of payments he can make in a year: $12,000 ÷ $1,316 = 9.12 payments.
Since there are 12 months in a year, Stanley can only make 9 payments per year. Therefore, he can only afford a mortgage with 9 payments of $1,316, which is $11,844 per year.
To afford a $150,000 mortgage, Stanley would need to lower his interest rate or increase his monthly payment. Since he cannot afford a higher monthly payment, he would need to improve his credit score to lower his interest rate.
Looking at the table, we can see that the interest rate associated with a credit score of 675-699 is 6.25%, which would result in a monthly payment of $924. To afford a $150,000 mortgage with a monthly payment of $924, Stanley would need to improve his credit score by 544 - 675 + 1 = 170 points.
Therefore, the answer is not listed in the options.
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Related Questions
1 In triangle MNP the measure of angle NPM is 80° and the measure of angle MNP is 22.5°.
What is the measure of angle PMN in degrees?
Answers
Answer:
77.5°
Step-by-step explanation:
Recall that the sum of angles in a triangle is 180 degrees.
Given the triangle MNP with the measure of angle NPM is 80° and the measure of angle MNP is 22.5°
Then
angles NPM + MNP + PMN = 180 degrees
This means that
80 + 22.5 + PMN = 180
102.5 + PMN = 180
Collect like terms
PMN = 180 - 102.5
= 77.5°.
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Answer:
take out x+60 and = x+54 cross multiply for starters
PLZ HELP ASAPPP I just need with 1 and 2 this is my very last assignment! Thank you guys for all your help this yr!
Answers
Answer:
1. a = 32.96 m∠B = 21° b = 12.74
2. x = 24.99
Step-by-step explanation:
1. Use the law of sines:
a/sin 112 = 26/sin 47
a = 26 sin 112/sin 47
a = 32.96
m∠B = 180 - 47 - 112 = 21°
b/sin 21 = 26/sin 47
b = 26 sin 21/sin 47
b = 12.74
2. Use the law of cosines
[tex]x^{2} = 17^{2} + 11^{2} - 2(17)(11) cos 125[/tex]
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= 624.5175....
x = [tex]\sqrt{624.5175...}[/tex]
= 24.99
What part of the circle is shown?
Answers
Answer:
Diameter
Step-by-step explanation:
The diameter is a straight line through the centre of a circle.
Hope this helps :)
"How much does it cost for a ticket to ride the subway from Station A to Station B?"
Is this an statistical question or its not an statistical question?
Answers
What is 5/9 +1/3 = I appreciate all answers!!
Answers
1.) Multiply Denominator:
9x3= 27
27 will be your new denominator for your answer.
then take 5 and multiply by 3.
5x3=15
then take 1 and multiply by 9.
1x9=9
Afterwards, you plus 15 and 9 to get 24.
so your fraction for the end will be 24/27.
Luke randomly selects 25 students from his school and asks each of them how many minutes they read each night to find out how much, on average, students at his school read. This represents which type of data collection
Answers
Answer:
Simple random sampling
Step-by-step explanation:
Luke wants to study average minutes students read each night. For that matter, he has selected a 'sample' of 25 students from entire 'population' of students in school.
He has selected the sample students randomly, for collecting data related to minutes of study each night. He also collects data from them directly ie with primary contact with them.
So, primary data collection, simple random sampling - has been used as a type of data collection.
At the farmers market, you can buy 3 jars of honey for $12,6 jars of honey for $24,or 9 jars of honey for $36.what is the constant of proportionality for buying jars of honey ?
Answers
Answer:
12
Step-by-step explanation:
What part of the circle is shown in purple?
Answers
Answer:
Radius
Step-by-step explanation:
I know the answer
Answer:
Radius
Step-by-step explanation:
Find the slope of the line that crosses through the points (-2, 5) and (-5, -4)
Answers
Answer:
umm i believe it is positive 5
Step-by-step explanation:
i hope i helped
Hi, what is 1/7 + 3/4 first right answer gets brainliest
Answers
Answer:
25/28 (Decimal: 0.892857 )
Branliest?
Answer:
[tex]\frac{25}{28}[/tex]
Step-by-step explanation:
Combine the fractions by finding a common denominator.
The scatterplot below shows the relationship between the height, in inches, and the shoe size of each of 10 students in a class. Students' Heights and Shoe Sizes 69 Height Based on the scatterplot, what ordered pair represents the outlier in the data? O (67, 7) O (8.5, 65) O (7.67) O (65,8.5)
Answers
math is hard
I'll mark someone the brainlyest
Answers
Answer:
1/w^6 or w^-6
Step-by-step explanation:
You add the two exponents
I recommend putting 1/w^6
Please mark brainliest
Find the corresponding time in the different countries in relation to the Philippine time. Choose the correct answer from the give choices.
Answers
D
Which point is the
orthocenter of AABC?
A. Point D
B. Point E
C. Point F
Answers
Professor Turner wrote the expression below on the chalkboard for his team at the Research Center. He asked the scientists there to write an equivalent expression that eliminated the parentheses.
Answers
Answer:
12x + 18y + 6z + 4x - 4z
Step-by-step explanation:
Given the expression : 3(4x + 6y + 2z) + 4(x – z)
To eliminate the parenthesis ; we use the distributive property :
3(4x + 6y + 2z) + 4(x – z) becomes ;
3*4x + 3*6y + 3*2z + 4*x + 4*-z
12x + 18y + 6z + 4x - 4z
Hence,
12x + 4x + 18y + 6z - 4z
16x + 18y + 2z
12) What value of x makes : f(x) = 30
Answers
Answer:
f(5) = 30 so x=5
Step-by-step explanation:
We want to find the value of x which makes the y value of the function 30
Looking at the graph x=5 makes y=30
Write the equation of the line in fully simplified slope-intercept form.
Answers
Answer:
y=-1/2x-1
Step-by-step explanation:
On a quiz there are four multiple-choice questions worth 3 points each and two true/false questionsworth 1 point each . Each multiple-choice question has five possible choices . If a student randomlyguesses on each question , what is the expected value of the student's score on the test ?
Answers
Answer:
The expected value of the student's score on the test is 3.4.
Step-by-step explanation:
Multiple choice questions:
worth 3 points.
Five possible choices, one of which is correct. So the expected value of the student in each multiple choice question is:
[tex]m = 3\frac{1}{5} = 0.6[/tex]
True/false questions:
worth 1 point.
2 options, one of which is correct, so the expected value for each is:
[tex]t = 1\frac{1}{2} = 0.5[/tex]
What is the expected value of the student's score on the test ?
4 multiple choice, two true-false. So
[tex]E = 4m + 2f = 4(0.6) + 2(0.5) = 2.4 + 1 = 3.4[/tex]
The expected value of the student's score on the test is 3.4.
If $36.25 in tax is added to the price of an item, what was the original price in dollars of the item?
$400
$500
$483.33
$600
Answers
If 9x x 3x+1 = 2187, what is the value of x?
Answers
Answer:
x = 80.96
Step-by-step explanation:
9x * 3x +1 = 2187
27x +1 = 2187
27x = 2187-1
27x = 2186
x = 2186/27 = 80.96(2dp)
Which of the following is a non linear equation?
i) x/3 = 12
ii) x + 1 = 6
iii) x + y + z = 17
iv) x y + x/y = 3
Answers
Answer:
Option (iv) is correct.
Step-by-step explanation:
The linear equation is the equation in which the degree of the equation is 1.
(i) x/3 = 12
As the degree of equation is 1, so, it is a linear equation.
(ii) x + 1 = 6
As the degree of equation is 1, so, it is a linear equation.
(iii) x + y + z = 17
As the degree of equation is 1, so, it is a linear equation.
(iv) x y + x / y = 3
x y^2 + x = 3 y
The degree of equation is 3, so the equation is non linear.
A cable 27 feet long runs from the top of a utility pole to a point on the ground 16 feet from the base of the pole. How tall is the utility pole?
Answers
Answer: 31.38
Step-by-step explanation:
you can always remember a*2+b*2=c*2
add/ multiply a and b to find c
Estimate the following using general rule.
730+998
796-314
7,720 × 626
6,498 ÷ 52
Answers
Answer:
answers rounded to the nearest tens: 1730, 480, 4832720, and 130.
A full bag of cat food weighs 2 ⅙ pounds. How much cat food do you have if there are 4 ½ bags in the cupboard? *
Answers
there would be 2 bags in there
The height of a cuboid whose volume is 275 cm3 and base area is 25 cm2 is:
Answers
Given:
The volume of a cuboid = 275 cm³
The base area of the cuboid = 25 cm²
To find:
The height of the cuboid.
Solution:
We know that, the volume of a cuboid is:
[tex]V=l\times b\times h[/tex]
Where, l is length, b is breadth and h is the height.
It is also written as:
[tex]V=B\times h[/tex] ...(i)
Where, B is the base area and h is the height of the cuboid.
Putting [tex]V=275, B=25[/tex] in (i), we get
[tex]275=25\times h[/tex]
[tex]275=25h[/tex]
[tex]\dfrac{275}{25}=h[/tex]
[tex]11=h[/tex]
Therefore, the height of the cuboid is 11.
please help me on this thing
Answers
Answer:
85 cm
Step-by-step explanation:
Answer:
68 cm
Step-by-step explanation:
Use the following formula (Pythagorean Theorem) to solve for c:
[tex]c^{2}= \sqrt{(a^{2}) - (b^{2})[/tex]
Substitute values:
[tex]c^{2}= \sqrt{(77^{2}) - (36^{2})[/tex]
Simplify:
[tex]c^{2}= \sqrt{(5,929) - (1,296)}[/tex]
[tex]c^{2}= \sqrt{4633}[/tex]
c ≈ 68 (rounded from 68.07)
♡BRAINLIEST TO RIGHT ANSWER♡
------Find the surface area of the figure, round your answer to the nearest hundredth if necessary <3
5.1 in
1 in
Answers
Answer:
19.47
Step-by-step explanation:
if the radius Is 1 and height is 5.1
math math math math math
Answers
Answer:
85 km
Step-by-step explanation:
The wild things pet store has 4 birdcages with 6 canaries in eacg cage. The pet store also has a birdcage with i oarakeets. Which expression shows the number of birds in wild things pet store?
Answers
Answer:
(4 * 6) + 8
Step-by-step explanation:
The Wild Things Pet Store has 4 birdcages with 6 canaries in each cage. The pet store also has a birdcage with 8 parakeets. Which expression shows the number of birds in Wild Things Pet Store?
Solution:
Each birdcage contain 6 canaries, therefore since there is a total of 4 birdcages, the number of canaries in the 4 bird cages is given by:
Number of canaries = 4 birdcages * 6 canaries per birdcage
Also, there is one birdcage with 8 parakeets, hence the number of parakeets is:
Number of Parakeet = 1 birdcage * 8 parakeet per birdcage = 8 parakeet
The total number of birds in the Pet store = number of canaries + number of parakeet
number of birds in the Pet store = (4 * 6) + 8