a
Laura and Martin obtain a 25-year, $90,000 conventional mortgage at 9.5% on a house selling for $120,000. Their monthly mortgage payment, including principal and
interest, is $786.60.
a) Determine the total amount they will pay for their house.
b) How much of the cost will be interest?
c) How much of the first payment on the mortgage is applied to the principal?

Answers

Answer 1

Part a)

The home value is $120,000 and they get a loan for $90,000.

This must mean the down payment was 120,000 - 90,000 = 30,000 dollars. This is the payment made up front.

The mortgage has a monthly payment of $786.60 which is done for 25 years = 25*12 = 300 months. They pay back 786*300 = 235,800 dollars.

Therefore, the total amount they pay for the house is:

downPayment + loanRepayment = 30,000 + 235,800 = 265,800

Answer: $265,800

=======================================================

Part b)

Refer to the previous part. Laura and Martin pay back $235,800 after being loaned $90,000

The total amount of interest is 235,800 - 90,000 = 145,800 dollars.

Answer: $145,800

=======================================================

Part c)

The annual interest rate is 9.5% which converts to the decimal form 0.095

Divide this over 12 to get the monthly interest rate in decimal form.

0.095/12 = 0.00791667 approximately

Then multiply this with the initial balance of $90,000

90,000*0.00791667 = 712.5003

This rounds to 712.50 and this represents the interest for the first month.

This leads to:

principal = monthlyPayment  - interest

principal = 786.60 - 712.50

principal = 74.10

It is unfortunately common practice that the starting monthly payments will be mostly interest. As time goes on, the increase payments decrease because they are tied directly to the remaining balance.

Answer: $74.10

Related Questions

00:23:04
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Product A sells 2.5 times more than Product B. Product B sells 60% less than Product C. Product C sold 25,000 units this month.
How many units of Product A were sold?
10,000
15,000
25,000 37,500 62,500

Answers

Answer:37,500

Step-by-step explanation: Find 60% of 25000 which is 15000 then multiply by 2.5

An airplane flying with the wind takes 5 hours to travel a distance of 960 miles. The return trip takes 6 hours flying against the wind. What is the speed of the airplane in still air and how fast is the wind blowing? ​

Answers

let's recall that d = rt, distance = rate * time.

a = speed of the airplane in still air.

w = speed of the wind

the distance travelled with the wind is 960 miles, so the return trip is pretty much just that, 960 miles.

when the airplane is going with with wind, the airplane is really not going as fast as "a" mph, is really going faster due to the wind, so the speed of the plane is "a + w", because the wind is adding its speed to it.

when the airplane is going against the wind is not really going "a" mph fast either, is really going slower at "a - w" mph, because the wind is subtracting speed from it, so

[tex]\begin{array}{lcccl} &\stackrel{miles}{distance}&\stackrel{mph}{rate}&\stackrel{hours}{time}\\ \cline{2-4}&\\ \textit{with the wind}&960&a+w&5\\ \textit{against the wind}&960&a-w&6 \end{array}~\hfill \begin{cases} 960=(a+w)(5)\\\\ 960=(a-w)(6) \end{cases} \\\\\\ \stackrel{\textit{using the 1st equation}}{960=(a+w)(5)}\implies \cfrac{960}{5}= a + w\implies 192=a+w\implies \boxed{192-w=a}[/tex]

[tex]\stackrel{\textit{substituting on the 2nd equation}}{960=(\underline{192-w}~~ - ~~w)(6)}\implies \cfrac{960}{6}=192-w-w\implies 160=192-2w \\\\\\ 2w+160=192\implies 2w=32\implies w=\cfrac{32}{2}\implies \blacktriangleright w=16 \blacktriangleleft ~\hfill \blacktriangleright \stackrel{192 - 16}{176=a} \blacktriangleleft[/tex]

cos(theta) / sin(theta)cot(theta) = 1

Answers

Hope it helps best of luckkkkk

Solve for x in the diagram below?

Answers

The value of x in the triangle with angles 80, 40 and (13x - 5) degrees is 5.

Sum of angle in a triangle

The sum of angle in a triangle is equals to 180 degrees. Recall a triangle have three sides. Therefore,

80 + 40 + 13x - 5 = 180

120 - 5 + 13x = 180

115 + 13x = 180

subtract 115 from both sides of the equation

115 - 115 + 13x = 180 - 115

13x = 65

divide both sides by 13

13x / 13 = 65 / 13

x = 5

learn more on triangle here: https://brainly.com/question/15268683

Gabrielle's age is two times Mikhail's age. The sum of their ages is 81. What is Mikhail's age?

Answers

Answer:

27

Step-by-step explanation:

       Let g be Gabrielle's age and m be Mikhail's age.

       We can turn the statements the problem gives us into mathematical expressions to help us solve.

       Gabrielle's age is two times Mikhail's age:

                      g = 2m

       The sum of their ages is 81:

                      g + m = 81

       This gives us a system of equations that will allow us to solve for Gabrielle's age.

g + m = 81

(2m) + m = 81

3m = 81

m = [tex]\frac{81}{3}[/tex]

m = 27

       If we need to solve for Gabrielle's age, we can do the following.

g = 2m

2(27) = g

54 = g

g = 54

Mikhail's age is 27.

Gabrielle's age is 54.

Answer:

Mikhail is 27

Step-by-step explanation:

Use 'm' to represent Mikhail's ageUse g = 2m to represent Gabrielle's age (because Gabrielle's age is twice that of Mikhail's.You know that both of their ages combined must equal 81. This can be represented by g + m = 81Lastly, since we stated g=2m, substitute it into the equation to make: 2m + m = 81Combine like variables and divide to get Mikhail's age.

**If you want to find Gabrielle's age, multiply Mikhail's age by two, as represented by the equation g=2m. Gabrielle is 57.

Hope this helps!

B.A ECO
(b) Prices of three commodities A, B and Crised by 4096, 60% and 90% respectively.
Commodity A is six times more important than Qy and B is three times more important than
C. what is the mean fise of these three commodities?

Answers

gagi i mean hi you I can get over it and white combo for the trial of

which fraction is the biggest?


[tex] \frac{2}{3} [/tex]

[tex] \frac{4}{5} [/tex]

[tex] \frac{7}{8} [/tex]

Answers

7/8 is the biggest fraction

-8x+4y=-8
5x-2y=1
Pls answer this fast

Answers

Answer:

x=-3

y=-8

I answered your question in the photo sent.

Determine f”(1) for the function f(x)=(3x^2-5x^2)^2.

Answers

Answer: 48

Step-by-step explanation:

HELP ME ON TANGENTS, ARCS AND CHORDS! 1

Answers

The answer is 0 because 0 to the 4 is 0

Write in 0.85 as a common fractionin its simplest form

Answers

[tex]\mathsf\pink{♧ANSWER♧}[/tex]

[tex] \mathsf \purple{0.85 = \frac{85}{100} = \frac{17}{20} }[/tex]

85/100 = 17/20

first we write the fraction from of 0.85 which is 85/100

then for simplifying it, we divide both 85 and 100 by 5

then we get to 17/20 which is our final answer

Solve 6x - 3y = 12 for y.​

Answers

Answer:

6x-3y=12

+3y

6x=3y+12

divide by 3

2x=y+4

-4

y=2x-4

Hope This Helps!!!

Solve the equation for y.

2x + 5y = 5


y=25x+1

y=−10x+25

y=−25x+1

y=25x+5

Answers

Answer: C

Step-by-step explanation:

[tex]2x+5y=5[/tex]

[tex]\mathrm{Subtract\:}2x\mathrm{\:from\:both\:sides}[/tex]

[tex]2x+5y-2x=5-2x[/tex]

[tex]\mathrm{Simplify}[/tex]

[tex]5y=5-2x[/tex]

[tex]\mathrm{Divide\:both\:sides\:by\:}5[/tex]

[tex]\frac{5y}{5}=\frac{5}{5}-\frac{2x}{5}[/tex]

[tex]\mathrm{Simplify}[/tex]

[tex]\bf{y=-\frac{2}{5}x + 1}[/tex]

Figure ABCD is a parallelogram.

Parallelogram A B C D is shown. The length of A B is 4 y minus 2, the length of B C is 2 x + 2, the length of D C is 2 y + 6, and the length of A D is 3 x minus 1.

What is the perimeter of ABCD?

14 units
38 units
44 units
49 units

Answers

Answer: 44 units

Step-by-step explanation:

Opposite sides of a parallelogram are equal, hence sides

AB = DC

4y-2 = 2y+6

2y=8

y=4

and

BC = AD

2x+2=3x-1

x=3

AB = 4Y-2

y=4

AB=14

BC=2x+2

x=3

BC=8

Perimeter = 2 X (AB + BC)

= 2 X (14+8)

= 44

Answer:

44 units

Step-by-step explanation:

3) After measuring the heights of 7 people, they have an average height of 156cm. After
measuring the heights of 8 people they have an average height of 158cm. How tall is
the 8th person?
Answer greatly appreciated asap

Answers

Answer:

172 cm

Step-by-step explanation:

The total height of the first 7 people is the average of the 7 people multiplied by the number of people, which is 156 * 7 or 1092. Using the same method, the total height of the first 8 people is 158*8 or 1264. The eighth person must be 1264 - 1092 cm tall or 172 cm tall.  

Convert the following to sq. cm or to sq. m, as required.
920 000 sq. cm= ______ sq. m​

Answers

Answer:

The answer is 92

Step-by-step explanation:

1 m = 10,000cm

920,000/10,000=92

Please help pls pls pls pls it’s due soon

Answers

Answer:

the answer is 67.5

Step-by-step explanation:

look at the photo

The area of the polygon shown in the figure is _______.

Answers

The answer is 72 Reasoning being that the problem is A length times width situation so 8x9=72

Select the correct answer
What is the range of this function?
Please help it’s multiple choice wil choose brain list an 100 points!!!!!

Answers

LETTER B IS THE CORRECT ANSWER

Which of the following is NOT an integer? A. 8/2 B. 1/4 C. 0 D. -5​

Answers

Answer:

B. 1/4

Step-by-step explanation:

Even though A is a fraction it is also an integer (4)

Please find 2/3 minus 3/5

Answers

First we need common denominators so we could multiply 2/3 by 5 and 3/5 by 3. Now we have 10/15 and 9/15. 10/15 - 9/15 = 1/15. The answer would be 1/15. Hope this helps and please mark brainliest!

Which is the logarithmic form of 83 = 512?

log8 512 = 3

log512 9 = 2

log3 512 = 8

log3 8 = 512

Answers

Answer:

no solution,because the Is no 83=512 there

the length of a rectagle is 5 in longer than its width. if the perimeter of the rectangle is 58 in, find its length and width

Answers

Answer:

Length: 17 in, Width: 12 in

Step-by-step explanation:

Let l=length and w=width

l=w+5

2(w+5)+2w=58

4w=48

w=12, l=17

Answer:

Length = 17 inches

Width = 12 inches

Step-by-step explanation:

As it is given that, the length of a rectangle is 5 in longer than its width and the perimeter of the rectangle is 58 in and we are to find the length and width of the rectangle. So,

Let us assume the width of the rectangle as x inches and therefore, the length will be (x + 5) inches .

Now, According to the Question :

[tex]{\longrightarrow \qquad { \pmb{\frak {2 ( Length + Breadth )= Perimeter_{(Rectangle)} }}}}[/tex]

[tex]{\longrightarrow \qquad { {\sf{2 ( x + 5 + x )= 58 }}}}[/tex]

[tex]{\longrightarrow \qquad { {\sf{2 ( 2x + 5 )= 58 }}}}[/tex]

[tex]{\longrightarrow \qquad { {\sf{ 4x + 10= 58 }}}}[/tex]

[tex]{\longrightarrow \qquad { {\sf{ 4x = 58 - 10}}}}[/tex]

[tex]{\longrightarrow \qquad { {\sf{ 4x = 48}}}}[/tex]

[tex]{\longrightarrow \qquad { {\sf{ x = \dfrac{48}{4} }}}}[/tex]

[tex]{\longrightarrow \qquad{ \underline{ \boxed { \pmb{\mathfrak {x = 12}} }}} }\: \: \bigstar[/tex]

Therefore,

The width of the rectangle is 12 inches .

Now, We are to find the length of the rectangle:

[tex]{\longrightarrow \qquad{ { \frak{\pmb{Length = x + 5 }}}}}[/tex]

[tex]{\longrightarrow \qquad{ { \frak{\pmb{Length = 12 + 5 }}}}}[/tex]

[tex]{\longrightarrow \qquad{ { \frak{\pmb{Length = 17}}}}}[/tex]

Therefore,

The length of the rectangle is 17 inches .

What is M G to the nearest tenth

Answers

Answer:

tan m‹G = 28.2/45.8

m‹G= 31.62°

Flying against the jetstream, a jet travels 2370 miles in 3 hours. Flying with the jetstream, the same jet travels 6350 miles in 5 hours. What is the rate of the jet in still air and what is the rate of the jetstream? ​

Answers

Velocity of jet in still air is

970

miles per hour and velocity of wind is

210

miles per hour.

Explanation:

Jet's velocity against wind is

3040

4

=

760

mile per hour and flying with wind it is

8260

7

=

1180

miles per hour.

Let the velocity of jet in still air be

x

miles per hour and velocity of wind be

y

miles per hour.

As such its velocity against wind is

x

y

and with wind is

x

+

y

and therefore

x

y

=

760

and

x

+

y

=

1180

Adding the two

2

x

=

1940

and

x

=

970

and

y

=

1180

970

=

210

Hence velocity of jet in still air is

970

miles per hour and velocity of wind is

210

miles per hour.

The speed of an aircraft in still air is 200kmh−1. The wind blows from the west at a speed of 85.0kmh−1.

1 Expert Answer

The speed of the plane in still air is 110 mph.

Multiply the headwind or tailwind component by your estimated flight time expressed as a decimal, such as "3.2 hours." Add the result (don't forget that tailwinds are negative numbers) to the geographic distance of your route. The resulting number will be total nautical air miles of your trip.

Help
ASAP...........

Answers

Step-by-step explanation:

[tex](9x + 24) + 30x = 180[/tex]

[tex]39x + 24 = 180[/tex]

[tex]39x = 156[/tex]

[tex]x = 4[/tex]

Hence,we know

<DEC

[tex] = 9x + 24 = 9 \times 4 + 24 = 60[/tex]

<AEB=<DEC=60

Name three synonyms for "Solution": _____________,___________,______________

Answers

Answer:

1 quick fix            2 solving               3 result

Step-by-step explanation:

hope it helps

a land mass is roughly in the shape of a rectangle whose perimeter is 1200 miles the width is 120 miles less than the length find the length and the width



PLEASE HELP ASAP!!! IM STUCK ON THIS

Answers

Answer:

Length: 360. Width: 240.

Step-by-step explanation:

360 * 2 = 720

240 * 2 = 480

720 + 480 = 1,200

What equals -9 when multiplied but -8 when added

Answers

Answer:

1 and -9

Step-by-step explanation:

We can find the number by looking at the factors of -9, which include 1 and -9, -1 and 9, and -3 and 3.

1 * -9 = -9

1 + (-9) = -8

An arrow is shot vertically upward at a rate of 160 feet per second from ground level. Use the projectile formula
h
=

16
t
2
+
v
0
t
+
h
0
h
=
-
16
t
2
+
v
0
t
+
h
0
to determine when the height of the arrow will be 114 feet.

Answers

Answer:

  0.772 seconds; 9.228 seconds

Step-by-step explanation:

The given projectile formula with the given numbers filled in is ...

  [tex]\displaystyle h=-16t^2+v_0t+h_0\\\\114=-16t^2+160t[/tex]

We can "complete the square" to solve this for t, the times at which the height is 114 feet.

  16(t² -10t) = -16(7.125) . . . . . rearrange, showing factor of 16

  t² -10t +25 = -7.125 +25 . . . . divide by 16, add 25 to complete the square

  t = 5 ±√17.875 ≈ 5 ± 4.228 . . . . take the square root, add 5

  t ∈ {0.772, 9.228}

The arrow is 114 feet high after 0.772 seconds and again after 9.228 seconds.

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