A person who filed bankruptcy in the past is able to get a 30-year mortgage loan at a rate that is 6% higher than what they could have received if they had not filed. The interest rate this person pays on a $150,000 loan is 11%, compounded monthly. Assume the person could have received the lower interest rate on the loan and saved all of the difference in the payments for the first 10 years of the loan. If this person invested this total amount in an account paying simple interest at the rate of 2.5%, how much money would have accumulated in interest by the time the mortgage is paid off? a. $37,395.18 b. $74,790.37 c. $623.25 d. $3,739.52

Answers

Answer 1

Answer:

A. $37,395

Step-by-step explanation:

correct on edge! hope it helps :)

Answer 2

The savings from the difference between the 30–year loan at 11%, which

is 6% gives an interest when the mortgage is paid of approximately;

a. $37,395.18

How can the amount interest accumulated be calculated?

The amount paid is given as follows;

[tex]Monthly \ payment, \ M = \mathbf{\dfrac{P \cdot \left(\dfrac{r}{12} \right) \cdot }\left(1+\dfrac{r}{12} \right)^n }{\left(1+\dfrac{r}{12} \right)^n - 1}[/tex]

Which gives;

[tex]M = \dfrac{150000 \times \left(\dfrac{0.11}{12} \right) \cdot \left(1+\dfrac{0.11}{12} \right)^{30 \times 12} }{\left(1+\dfrac{0.11}{12} \right)^{30 \times 12} - 1} \approx \mathbf{1,428.49}[/tex]

Payment in 10 years = $1,428.49 × 120 ≈ $171,418.8

At the lower interest rate the person could have received (11 - 6 = 5)%, we have;

[tex]M = \mathbf{\dfrac{150000 \times \left(\dfrac{0.05}{12} \right) \cdot \left(1+\dfrac{0.05}{12} \right)^{30 \times 12} }{\left(1+\dfrac{0.05}{12} \right)^{30 \times 12} - 1}} \approx 805.23[/tex]

Payment in 10 years = $805.23 × 120 ≈ $92,227.6

Savings = $171,418.8 - $96,627.6 = $74,791.2

The time duration the savings is invested in the account = 30 years - 10 years = 20 years

Which gives;

Simple interest  after 20 years = $74,791.2 × 0.025 × 20 ≈ $37,396.6

Therefore;

The option that best gives the amount of money that would have accumulated in interest is the option a.

a. $37,395.18

Learn more about compound and simple interest here:

https://brainly.com/question/24557100

https://brainly.com/question/9245816


Related Questions

1-Un balón de fútbol tiene un precio de $125 + IVA

1. ¿Cuánto es el IVA del balón?

A) 125 b) 200 c) 245

Answers

Answer:

b) 200

Step-by-step explanation:

The correct answer is b) 200

1) El IVA del balón es de $ 20.

2) El precio final del balón es $ 145.

1) El Impuesto al Valor Agregado (IVA) es un impuesto indirecto que se aplica sobre el precio de compra del artículo comprado, es decir, se trata de un impuesto indirecto al consumo.

El porcentaje por concepto del impuesto varía de país en país. No obstante, el valor más común en países hispanoparlantes se ubica en torno al 16 % del precio de compra del artículo.

El IVA del balón se determina mediante la siguiente operación aritmética:

[tex]\Delta C = 0.16\cdot (125)[/tex]

[tex]\Delta C = 20[/tex]

El IVA del balón es de $ 20.

2) El precio final del producto es la suma del precio de compra y el IVA, es decir:

[tex]C = 125 + 20[/tex]

[tex]C = 145[/tex]

El precio final del balón es $ 145.  

Para aprender más sobre impuestos, invitamos cordialmente a ver esta pregunta verificada: https://brainly.com/question/24907444

Nota - El enunciado reporta numerosos errores tipográficos y está incompleto, el enunciado correcto y completo es el siguiente:

Un balón de fútbol tiene un precio de $ 125 + IVA.

1) ¿Cuánto es el IVA del balón? a) 20, b) 145, c) 325

2) ¿Cuál es el precio final con IVA del balón? a) 125, b) 200, c) 145

How can i state whether each graphs represents a function? ​

Answers

if it has 2 dots on the same vertical line then it is NOT a function.

6 devide by 7.3 so what is the answer

Answers

Answer:

0.82

step-by-step explanation:

the worst carrier of contamination of food service is​

Answers

Answer:

Dirty unwashed hands

Step-by-step explanation:

Answer:

Clean hands and clean food

Step-by-step explanation:

jk

If segment AB is 28, then segment AD is___?

Answers

Answer:

C. 14

Step-by-step explanation:

The whole side is 28 (AB), so AD must be half of AB. 28/2=14

Identify in the given expressions, terms which are not constants. Give their numerical coefficients.
(i) 5x – 3
(ii) 11 – 2y2
(iii) 2x – 1​

Answers

Given:

The expression are

(i) [tex]5x-3[/tex]

(ii) [tex]11-2y^2[/tex]

(iii) [tex]2x-1[/tex]

To find:

The terms which are not constants and their numerical coefficients.

Solution:

Constants: The terms which are free from variables.

Numerical coefficient: Number multiplied with a variable.

(i) [tex]5x-3[/tex]

Constant = -3

Term which is not constant = 5x

Numerical coefficient = 5

(ii) [tex]11-2y^2[/tex]

Constant = 11

Term which is not constant = [tex]-2y^2[/tex]

Numerical coefficient = -2

(iii) [tex]2x-1[/tex]

Constant = -1

Term which is not constant = 2x

Numerical coefficient = 2

Therefore, the terms which are not constants are  [tex]5x,-2y^2,2x[/tex]  respectively and their numerical coefficients are 5, -2, 2 respectively.

6X + 8Y - 4Z = 5 1X + 2Y + 5Z = 9 9X - 3Y + 3Z = 6 resolverlo por metodo de Gauss jordan

Answers

Responder:

x = 4.48

y = 4.86

z = -1.04

Explicación paso a paso:

Dadas las ecuaciones simultáneas;

6X + 8Y - 4Z = 5 .... 1

1X + 2Y + 5Z = 9 ... 2

9X - 3Y + 3Z = 6 .... 3

Primero necesitamos reducir el sistema de ecuaciones

Ecuación 1 * 1

Ecuación 2 * 4

__________

6X + 8Y - 4Z = 5

4X + 8Y + 20Z = 36

Restar

6x-4x - 4z-20z = 5-36

2x-24z = 31 ... 4

también

ecuación 2 * 3

ecuación 3 * 2

_______________

1X + 2Y + 5Z = 9 * 3

9X - 3Y + 3Z = 6 * 2

_______________

3x + 6y + 15z = 27

18x - 6 años + 6z = 12

Agregar

3x + 18x + 15z + 6z = 27 + 12

21x + 21z = 39 ...... 5

Resolviendo 4 y 5

2x-24z = 31 ... 4 * 21

21x + 21z = 39 ...... 5 * 2

____________

42x - 504z = 651

42x + 42z = 78

Sustraer

-504x - 42z = 651-78

-546z = 573

z = -573/546

z = -1.05

Sustituye z = -1.05 en 4

De 4;

2x-21z = 31

2x - 21 (-1,05) = 31

2x + 22,04 = 31

2x = 31-22.04

2x = 8,96

x = 8,96 / 2

x = 4,48

Obtener y

De 2:

X + 2Y + 5Z = 9

4.48 + 2y + 5 (-1.04) = 9

2 años + 4,48-5,2 = 9

2y = 9 + 0,72

2 años = 9,72

y = 9,72 / 2

y = 4,86

Por tanto, la solución (x, y, z) es (4.48, 4.86, -1.04)

Need help with answer

Answers

Answer:

3x+3

Step-by-step explanation:

We can ad up all of those

x+x+6+x-3= so we get 3x+6-3 which is 3x+3

In a population of 2000 students, 230 are left-handed. A random sample of size
50 is selected and the number of left-handed students is recorded. If we
collected many more samples, which of the following could describe the
sampling distribution?

Answers

11.5% is the correct answer

i need help !!!!!!!!!!!!!!!!!!!

Answers

Answer:

117 yards is the approximate distance

Step-by-step explanation:

15 points and brainliest! Solve for x. 7x + 3 = 17

A: x= 2

B: x=7

C: x=20

D: x=27

Answers

Answer:

Its A

Step-by-step explanation:

7x + 3 =17

            -3  ( 17 -3 = 14)

7x =  14.  (14 divided by 7)

u get x=2

Which quadrants are (-4,5) in

Answers

Answer:

Quadrant 2

Step-by-step explanation:

Take a look at the picture I added it should help you on futures questions like this :)

The scatter plot shows the relationship between elevation and temperature on a certain mountain peak in North America. Which statements are correct?

A. The data shows one potential outlier

B. The data shows a linear association

C. The data shows a clustering pattern

D. The data shows a negative association

E. As elevation increases, temperature decreases

Answers

The scatter plot shows the data having a clustering pattern, and as elevation increases, temperature decreases.

What is a scatter plot ?

"Scatter plots are the graphs that present the relationship between two variables in a data-set. It represents data points on a two-dimensional plane or on a Cartesian system. The independent variable or attribute is plotted on the X-axis, while the dependent variable is plotted on the Y-axis. These plots are often called scatter graphs or scatter diagrams."

"A scatter plot is also called a scatter chart, scattergram, or scatter plot, XY graph. The scatter diagram graphs numerical data pairs, with one variable on each axis, show their relationship"

Since, the graph is a scatter plot so the data shows a clustering pattern.

and from the plot we can conclude that as elevation increases, temperature decreases.

Hence, C, E are the correct option.

To know more about scatter plot here

https://brainly.com/question/13984412

#SPJ2

Answer:

B, D, E

Step-by-step explanation:

The data shows a linear association.,The data shows a negative association., As elevation increases, temperature decreases. Additionally : The data does not show a potential outlier., The data does not show a clustering pattern.

Write the number that is five less than ten million.

Answers

Answer:

9,999,995

Step-by-step explanation:

Name the quadrant or axis where each point lies.

Answers

Point A is in Quadrant I where the x and y are both positive.

Point B lies in between Quadrants II and III. Or it lies on the x-axis (If this is an option).

Answer:

Point A: Quadrant 1

Point B: Either Quadrant 2 or 3

Step-by-step explanation:

Quadrant 1 is positive x and y

Quadrant 2 is positive y and negative x

Quadrant 3 is negative x and y

Quadrant 4 is negative y and positive x

Point A is both positive x and y

Point B has a y=0 and negative x, so it is between Quadrants 2 and 3

(hope this helps :P)

Jdjdjdjdjjdjdjjsjdjsjsjsk

Answers

Answer:

the 2nd answer

Step-by-step explanation:

i dont know how to explain it but the 2nd onr



12. A number has an absolute value
of 8. List all of the possible numbers
that have an absolute value of 8
Explain how you know. (Module 3)

Answers

Answer:

8 and -8

Step-by-step explanation:

cause thats how math work

Jordan took a math test. the number of questions he got COrrect to the number of questions he got INcorrect was 8:3. if he got 9 questions incorrect, how many did he get correct ?

(i would appreciate it if u answer with a step by step explanation since i have to show my work :)

Answers

Answer:

I'm not sure if this is correct

24

Step-by-step explanation:

8:3

?:9

9÷3=3

So then you would be able to times 8 by 3 also which gives you 24

It's just a guess, sorry if it doesn't help

35 POINTS AND BRAINLIEST PLEASE ANSWER PROPERLY MUST BE DONE IN 10MIN​

Answers

C 89.54 goes to A

D goes to B

A goes to C

B goes to D

F goes to E

Since the laptop is on sale, that would make it $206.99.

Convert 96 ounces to pounds.
6 lb.
O4 lb.
10 lb.
5 lb
PLS HELP

Answers

Answer:

6 lb

Step-by-step explanation:

i took math lol

PS. plzzzz tell me if u got it right

Answer:

6 lb

Step-by-step explanation:

there are 16 ounces in one pound

96/16 = 6 lb

Have a nice day

PLEASE HELP answer this and explain will mark brainliest

Answers

Answer:

7.

a) n + 1 represents the next larger integer

b) n + n + 1 + n + 2 + n + 3

c) s = n + n + 1 + n + 2 + n + 3

d) n = [tex]\frac{s-6}{4}[/tex]

e) n = 2174 - 6 / 4 = 2168 / 4 = 542

Step-by-step explanation:

y<1/4x+1 y≥ 3x+2 identify one point that is a solution and identify any point that is NOT a solution

Answers

Answer:

(-1,-1) works (5,5) does not

Step-by-step explanation:

y<1/4x+1[tex]\geq[/tex]3x+2

-1<1/4(-1)+1[tex]\geq[/tex]3(-1)+2

-1<-1/4+1[tex]\geq[/tex]-3+2

-1<.75[tex]\geq[/tex]-1

melanie walks 2 large dogs and 8 small dos as part of her dog walking business the simplified ratio of large dogs to small dogs is

Answers

Answer:8:36

Step-by-step explanation:

Answer: 1 : 4

Step-by-step explanation:

The simplified ratio of large dogs to small dogs is 1 : 4.

The original, unsimplified ratio would be 2 : 8, because there are 2 large dogs for every 8 small dogs. But to simplify it, we can divide each side by 2.

2 ÷ 2 = 1, while 8 ÷ 2 = 4.

Therefore, the simplified ratio of large dogs to small dogs is 1 : 4.

Hope this helps!

2) Will the border line of the graph of y< -22 +42 +5 be a solid line or a broken
line?

Answers

Answer:

69[tex]) ) 22 + 42 + 5 = 69 \sqrt{()xy { { \sqrt[ log_{e\% \sin( \\ \\ \\ \\ \\ \\ \\ \\ \\ \\ \\ \\ \\ \\ \infty \alpha \pi\% log( log( log( log( log( log( log( log(?) ) ) )[/tex]

60 in scientific notation

Answers

6 x 10 to the first power

Answer:

I think the answer would be 6.0x10¹

If 60 was in scientific notation it would look like 6.0 because there is only one zero and we would need to move the decimal one place to the right. So we multiply 10¹ so we can move that decimal to the right to make 60.

someone help please show work

Answers

Answer: m=18

Step-by-step explanation:

Identify the rate of change of the function.

Answers

67Answer:67

Step-by-step explanation:

Note that “rate of change of the function” is a trivial name for “derivative of the function”.

So we just need to find the derivative of the function.

A linear equation should be easily found by:

(y - (-5)) / (x - 0) = (-5 - 0)/(0 - 2.5)
2x - y - 5 = 0
y = 2x - 5

Taking the derivative with respect to x:
dy/dx = 2

Done.
By the way it’s equivalent to the slope of the function. ; )

Add the polynomials: (3x+3x2-4x+5) + (x3-2x2+x-4)​

Answers

Answer......

x^2+3x+1

Answer:

The answer is x^2+3x+1

Step-by-step explanation:

What is 4^0 in exponential form?

Answers

Anything to the power of 0 is just 1

I need help with solving systems of linear equations through elimination.
1.) 8x = 3y + 38
24= 6y + 9x
a. all real numbers
b. (4,-2)
c. (4,-4)
d. (6,3)
2.) 6 = 2x + y
7x = 3 - 3y
a. (15,-36)
b. (-5,6)
c. (0,0)
d. (-15,36)
3.) 11x = 5 + 10y
7y = -2x +45
a. (-5,10)
b. (5,5)
c. (14, -4)
d. No solution

Answers

Answer:

See explanation

Step-by-step explanation:

8x = 3y + 38  

24= 6y + 9x  

Rearrange;

3y - 8x = -38       * 2     -------(1)

6y + 9x = 24       * 1       -------(2)

6y - 16x = -76    -------(3)

6y + 9y  = 24    -------(4)

Subtract (4) from (3)

     -25y = -100

      y= 100/25

     y = 4

Substitute y =4 into(1)

3y - 8x = -38    

3(4) - 8x = -38

12 -8x = -38

-8x = -38 - 12

x = 50/8 = 6 2/8

2) 6 = 2x + y

7x = 3 - 3y

Rearrange;

2x + y = 6            * 3    --------(1)

7x + 3y = -3         * 1     --------(2)

6x + 3y = 18        ---------(3)

7x  + 3y = -3        ---------(4)

Subtract (4) from (3)

-x   = 21

x = -21

Substitute x = -21 into (1)

2x + y = 6

2(-21) + y = 6

-42 + y = 6

y = 6 + 42

y = 48

3)  

11x = 5 + 10y

7y = -2x +45

Rearrange

11x - 10y = 5          * 2  ---------(1)

2x + 7y   = 45       * 11  ---------(2)

22x - 20y = 10     --------(3)

22x + 77y = 495  --------(4)

Subtract (4) from (3)

       -97y  = -485

          y =  5

Substitute y =5 into (1)

11x - 10y = 5  

11x - 10(5) = 5

11x - 50 = 5

11x = 5 + 50

11x = 55

x = 55/11

x = 5

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