Victoria earns a gross annual income of $124,482 and is buying a home for $225,500. She is making a 20% down payment and financing the rest with a 30-year loan at 4.5% interest.

(a) What is the mortgage amount she will borrow?

(b) Can she afford this mortgage?

(c) What will her monthly mortgage payment be?

(d) What will her total payment for the house be?

(e) What is the amount of interest she will pay?

Answers

Answer 1

Answer:

(a) The mortgage amount she will borrow is $180,400

(b) Yes she can

(c) Her monthly payment will be approximately $914.06

(d) Her total repayment is approximately $329,061.6

(e) The amount of interest is approximately $148,661.6

Step-by-step explanation:

The details of the transactions are;

The gross annual income Victoria earns = $124,482

The cost price of the home she is buying, C = $225,500

The amount she is making as down payment = 20%

The duration the loan she id financing the rest with, t = 30-years

The interest rate on the loan, r = 4.5%

(a) The mortgage amount she will borrow, 'P', is the cost of the home less the down payment

The down payment = 20% of the cost of the home

∴ The down payment = (20/100) × $225,500 = $45,100

∴ P = $225,500 - $45,100 = $180,400

The mortgage amount she will borrow, P = $180,400

(b) Using the 2× to 2.5× gross income rule, we have;

2 × her annual income = 2 × 124,482 = 248,964

∴ 2 × her annual income > The mortgage = 180,400

She can afford the mortgage

(c) The monthly fixed payment for the mortgage is given as follows;

   [tex]M = P \times \dfrac{r}{n} \times \dfrac{\left(1+ \dfrac{r}{n} \right)^{n \cdot t}}{\left[\left(1 + \dfrac{r}{n} \right)^{n\cdot t} - 1\right]}[/tex]

Where;

n = The number of periods per year = 12 monthly periods per year

180,400*0.045*(1 + 0.045)^(30)/((1 + 0.045)^(30) - 1)

[tex]M = 180,400 \times \dfrac{0.045 }{12} \times \dfrac{\left(1+\dfrac{0.045 }{12}\right)^{30 \times 12}}{\left[\left(1 + \dfrac{0.045 }{12}\right)^{30 \times 12} - 1\right]} \approx 914.060298926[/tex]

Her monthly payment will be M ≈ $914.06

(d) The total repayment is given as follows;

n × t × M

∴ 12 × 30 × 914.06 = 329061.6

The total payment for the house = $329,061.6

(e) The amount of interest = The total payment - The principal loan amount

∴ The amount of interest = $329061.6 - $180,400 = $148,661.6


Related Questions

Complete the equation of the line through (-8,-2) and (-4,6)
Use exact numbers.
y=

Answers

Answer:

round 55666777 for 5th 50th is not a big game for a player who will give the 8th or 3rd season to 466

What is the surface area of the rectangular prism below
7 7 14

A.496 B.490 C.980 D.248

Answers

Answer:

B

Step-by-step explanation:

Formula

SA = 2*L*W + 2*L*H + 2*H*W

Givens

L = 14

W = 7

H = 7

Solution

SA = 2*14*7 + 2*14*7 + 2*7*7

SA = 196 + 196 + 98

SA = 490

I need steps for this (need answers asap)

Answers

Answer:

(2x-7)(x+12)

Step-by-step explanation:

2x²+17x-84

(2x     )(x     )

We were told to use 7 and 12 to equal 84. Let's try 12 in the first bracket and 7 in the second:

(2x  12)(x   7): (2x)(7) and (12)(x) = 14x and 12x, which we cant make 17x from

Now let's try 7 in the first bracket and 12 in the second:

(2x   7)(x   12): (2x)(12) and (7)(x) = 24x and 7x, which we CAN use to make 17x if the 7x is negative, ie place a '+' before the twelve in the second bracket and a '-' before the seven in the first bracket.

(2x-7)(x+12)

Double check: (2x-7)(x+12)=2x(x+12)-7(x+12)=2x²+24x-7x-84=2x²+17x-84

Please help me in it! It's very difficult, i'm in 6th and I still don't understand this. Please, help me in this!!!

Answers

Answer:

40

where the line starts (75) and ends (115)

115-75=40

thats the quick way to solve... hope this helps!

Step-by-step explanation:

Brainliest?

2000 x 0.045 x 7 =
5000 x 0.07 x 20 =
28000 x 0.09 x 1 =
7500 x 0.035 x 2 =
4000 x 0.045 x 2.5 =

Answers

Answer:

639.8

7000

2520

525

450

..........

Find the volume of the triangular prism.
A triangular prism has a height of 6 meters. Its triangular bases have a base length of 4.2 meters. and a height of 2.8 meters.

The volume of the triangular prism is ___

Answers

Answer:

V = 35.28 m³

Steps:

V = H × (h×bl)/2

V = 6 × (4.2×2.8)/2

V = 6 × 11.76/2

V = 6 × 5.88

V = 35.28 m³

200 PTS AND BRAINLIEST!!!!!!!!!!!!!!!!TYYYYY!!!!!!!!!!!!nEEDASAP
(a) Andre is planning on renting a new apartment, but he wants to stay within his budget on rent and utilities. Andre is looking at an apartment. The apartment costs $1450 per month, plus $250 for utilities. Will this apartment fit within Andre’s budget? Show your work and explain your reasoning.
(b) How much more money does Andre budget for savings than for groceries and utilities combined? Show your work. Write your answer as a dollar amount.

Answers

Answer:

Apartment 1 is his best option

Answer: Apartment 1

Step-by-step explanation:

HELPPPP
What is the name of the figure?

Answers

Im assuming a hexagon pyramid/cone???

Bc when you look at a square triangle its only called that becoause of its base??

Answer:

it's hexagon cone

someone said that so yeah

CAN SOMEONE HELP AND EXPLAIN WHAT TO DO PLEASEEEEEEEEEEEEEE

Answers

Answer:

a. 19 Questions

b. No, Collins grade was 81%, or B-minus :(

Step-by-step explanation:

There are 21 questions in total on the test. Collin wants a 90 percent at least. If you multiply 21 by 90 percent (as below), you will get 18.9

[tex]21 * .9\\=18.9[/tex]

Of course, you can't get 18.9 questions right (unless you're teacher gives .9 extra points lol, So we need to round UP to a whole number (don't round down because it'll give you a number lower than what 90 percent would equate to.

And, Collin got 17 questions right. That's equivalent to 81 percent of 21 (as below).

[tex]17 / 21\\=.8095[/tex]

This rounds to about 81%, meaning Collin did not reach his goal :(. Oh well, he'll just have to try harder next time!

Have a nice day, fam.

A farmer wants to seed and fence a section of land. Fencing costs $27 per yard. Grass seed costs $2 per square foot. How much does it cost to fence and seed the pasture? (No links)

Answers

Answer:

she have 29 seed for the pasture


$448,740

FENCING: $27(255+255+450+450+450)/3 = $16740
GRASS SQUARE: 450^2 * $2= $405000
GRASS TRIANGLE: sqrt(255^2-120^2) = 225, 120/2 * 225 = 60 * 225 = 13500 ft^2, 13500 * 2 = $27000
$16740 + $405000 + $27000 = $448,740

What is the value of 9x^2 + 13x – 15, if x = 2

Answers

Step-by-step explanation:

Given,

[tex]9 {x}^{2} + 13x - 15[/tex]

and

[tex]x = 2[/tex]

Substitute x = 2 into expression.

[tex]9 {x}^{2} + 13x - 15 = 9( {2}^{2} ) + 13(2) - 15 \\ = 9(4) + 26 - 15 \\ = 36 + 26 - 15 \\ = 62 - 15 \\ = 47[/tex]

Answer:

9(2)×2+13(2)-15

18×2+26-15

36+11

47 is your answer ☺️☺️☺️

The inverse of the function f(x) = { x + 10 is shown.
h(x) = 2x-0
What is the missing value?
O 1
O 5
O 10
O20

Answers

Answer:

D) 20

Step-by-step explanation:

the missing value is 20

the last option

The equation h(x) = 2x - 0 = x - 10 is satisfied by the value x = -10; the omitted integer is 10.

What is a function?

A function is a mathematical formula that illustrates the relationship between the dependent and independent variables. The independent variable's value and the dependent variable's value both change in the function.

Determine x in terms of f(x) in order to determine the inverse of the function f(x) = x + 10:

f(x) = x + 10

f(x) - 10 = x

x = f(x) - 10

Since h(x) is the opposite of f(x), replace x with h(x):

h(x) = f⁻¹(x) = x - 10

Since h(x) is the opposite of f(x), replace x with h(x):

To identify the missing value, compare the expression for h(x) to the supplied function, h(x) = 2x-0. We can see that the appropriate expression for h(x) is:

h(x) = 2x - 0 = x - 10

Find the value of x that allows this equation to be solved:

2x - 0 = x - 10

Simplifying and solving for x,

x = -10

Therefore, the missing value is O 10, since x = -10 satisfies the equation h(x) = 2x - 0 = x - 10

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what two number have an absolute value of 12?

Answers

Answer:

The absolute value of 12, is 12...

Step-by-step explanation:

Answer:

-12

Step-by-step explanation:

if both expressions have the same value after substituting two different values and simplifying, then they are . When p = 2, the first expression is and the second expression is 16. When p = 8, the first expression is 40 and the second expression is . The expressions are .

Answers

2p=16 and second expression is 8p=40

Answer:

If both expressions have the same value after substituting and simplifying two different values for the variable, then they are  

✔ equivalent

.

!Step-by-step explanation:

hop3 it helped

(-4,9);m=-1/2
Write the equation in point slope form

Answers

ANSWER: y-9=-1/2(x+4)

Reasoning: Just got to fill in the format
Format is: y-y1=m(x-x1)

4. Evaluate the expression for the given value of each variable.


5a2 -7 -b3

when a = -2 and b = -3

please help!
NO LINKS!!!

Answers

Answer:

-18

Step-by-step explanation:

5a2-7-b3

[tex]5*a*2-7-b*3[/tex]

[tex]5\cdot \left(-2\right)\cdot \left(2\right)-7-\left(-3\right)\cdot 3[/tex]

Therefore, -18 is your answer.

Hope this helped! :)

how to read a q q q q q q q q q q q q q q q q q

Answers

Your read from left to right. Read intensively if you want to practice the fundamentals and learn vocabulary. Intensive reading is focused more on individual details of what you’re reading.

hope this helped <3

Answer:

This is how to read a

Pronounce it with your mouth open as in "ah" then smile with an "ee" sound. Say "Ay" and that's how you say A or "Ah"

How to read Q? Just pronounce it as "Kyuu" or when reading it say "Ck" with a sharper sound.

Hope this helped!

Find the volume of a right circular cone that has a height of 9.7 ft and a base with a
radius of 7.6 ft. Round your answer to the nearest tenth of a cubic foot.

Answers

Height =9.7ft

Radius=7.6 feet

Volume of a cone =pai r2 h/3 =3.14×57.76×9.7÷3 =586.4103(roundoff)

=586ft

please help, i will give brainilest.

Answers

Answer:

-36

Step-by-step explanation:

Answer:

i think x = 21

Step-by-step explanation:

Does any one know the answer to this thank you

Answers

Answer:

The First choice

Step-by-step explanation:

What is the difference between a leg and a hypotenuse?

Answers

Answer:

Legs - the sides that form the right angle of a right triangle.

Hypotenuse - the side opposite the right angle of a right triangle.

Step-by-step explanation:

Every triangle has 3 sides.

Certain special triangle have specific names assigned to their sides.

A right triangle has one right angle and two acute angles. The two sides that form the right angle of a right triangle are called legs. The third side of the right triangle is called hypotenuse. The hypotenuse is opposite the right angle and does not help form the right angle.

how do you round 0.955 to the nearest tenth

Answers

Answer:

1.0

Step-by-step explanation:

If you have any questions feel free to ask in the comments

Answer: 1.0

Step-by-step explanation:

Given:  "0.995 inches" ; round to the nearest TENTH of an inch.

(which means; round to the nearest "first decimal point" ; and to include the actual first decimal point (and that decimal point only, the "tenths place").

We are given the number:  "0.955" .  This is given to the nearest THOUSANDS.  

We examine the "tenths place":  "0.9" .  So we know our choices are:

"0.9" (round down to the nearest tenths place); or, "1.0" (round up to the nearest tenths place).  

           →  We examine the number: "0.955" ; and look to the next value, the "hundredths place".  

           → If that digit is 5 or greater (i.e. 5 to 9), we "round up" ; and the correct answer is:  "1.0" .  If that number is "4" or less (i.e. 0 to 4), we round down; and the correct answer is:  "0.9".

________________________________________

In the case of our give value:  "0.955" .  The digit to the right of "9" is "5" ; so, as previously mentioned, we "round up" ;  to:  "1.0".

Do not forget to include the units.

______________________________________________________

The answer is:  1.0 inches.

_________________________________________________

Which ordered pair would not be a solution to y = x3 – X ?
(-4,-60)
(-3,-24)
(-2,-6)
(-1,-2)

Answers

Answer:

Step-by-step explanation:

im totataly lost:( (needs help)

Answers

Answer:

B)All the real numbers

Step-by-step explanation:

the given Graph is Parabola

so the function has to be quadratic

we know that the domain of a quadratic function is always [tex]x\in\mathbb{R}[/tex]

hence, our answer is B

Picture is included please help​

Answers

Answer:

B cannot be factored into a perfect square

simplify leaving your answer in the standard form
[tex] \frac{0.0225 \times 0.0256}{0.0015 \times 0.48} [/tex]

Answers

Answer:

0.8 is the standard form

Given the coordinates for the function below, which of the following are coordinates for its inverse?

Answers

Th Answer A because the answer B numbers on the stat is wrong the answer should be 650 subtracted by the miles traveled and the answer should match what you subtract

The inverse of the given function is represented by Data Table B.

What is a Function?

A function is a law that relates a dependent and an independent variable.

The Inverse of the function is determined by interchanging the values of a and y in an f(x,y) function and then express the equation of y in terms of x.

Th table of the function is

Miles to go             Miles Travelled

0                                       0

100                                  310

200                                  450

340                                   550

650                                   650

The inverse of this data table will be

 Miles Travelled             Miles to go

650                                        650

340                                        550  

200                                       450

100                                        310

0                                             0

This is represented by Data Table B.

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Find all the missing elements
Round to the nearest tenth.

Answers

Answer:

B = 48.7°

C = 61.3°

b = 12

Step-by-step explanation:

Given:

A = 70°

a = 15

c = 14

Required:

B, C, and b

Solution:

✔️Using the law of sines, let's find C:

Sin C/c = Sin A/a

Plug in the values

Sin C/14 = Sin 70/15

Cross multiply

Sin C × 15 = Sin 70 × 14

Divide both sides by 15

Sin C = (Sin 70 × 14)/15

Sin C = 0.8770

C = Sin^{-1}(0.8770)

C = 61.282566° = 61.3° (nearest tenth)

✔️Find B:

B = 180 - (70 + 61.3) (sum of triangle)

B = 48.7°

✔️Find b using the law of sines:

b/sinB = a/sinA

Plug in the values

b/sin 48.7 = 15/sin 70

Cross multiply

b*sin 70 = 15*sin 48.7

Divide both sides by sin 48.7

b = (15*sin 48.7)/sin 70

b = 11.9921789

b = 12.0 (nearest tenth)

8
p varies directly as the square root of q.
p = 8 when q = 25.
Find p when q = 100.

Answers

Answer:

16

Step-by-step explanation:

p=k√q

8=k√25

8=k5

k=8/5

p when q=100

p=8/5*√100

p=8/5*10

p=16

A rabbit is carrying a dominant allele for brown hair (B) and a recessive allele for white hair (b). What is the rabbit's phenotype?

Answers

Answer:

B

Step-by-step explanation:

Its dominant because its brown hair.

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