A couple can afford to make a monthly mortgage payment of $700. If the mortgage rate is 2% and the couple intends to secure a 30-year mortgage, how much can they borrow?

Answers

Answer 1
Answer:    $189,383.96

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

Explanation:

r = 0.02 = decimal form of 2% annual interesti = monthly interest ratei = r/12 = 0.02/12 = (2/100)/12 = 1/600.n = number of months = 12*30 = 360P = monthly payment = 700

We'll plug those items into the formula below.

L = loan amount

L = P*( (1+i)^n - 1)/( i*(1+i)^n )

L = 700*( (1+1/600)^360 - 1 )/( 1/600*(1+1/600)^360 )

L = 189,383.961539639

L = 189,383.96

The couple can afford to borrow at most $189,383.96


Related Questions

A
Hilda has a bank account balance of $1550. Each week, her balance changes by −$82.50. She wants to keep the balance above $395.

How many weeks will Hilda's balance remain above $395?

Select from the drop-down menu to correctly complete the statement.

Hilda's bank balance will remain above $395
Choose...
weeks.

Answers

Step-by-step explanation:

1550 - 395 = 1155

1155 / 82.5 = 14

Answer should therefore be 14 weeks.

Not my usual way of doing this sort of question but I'm interested to see if it's right. Alternatively you can subtract $82.50 from $1550 until/before you reach $395. Do not go below $395 though.

Answer:

K12 Answer

Step-by-step explanation:

Shen borrowed $8000 at a rate of 17%, compounded quarterly. Assuming he makes no payments, how much will he owe after 6 years?​

Answers

224,640
(8,000*1.17)(6*4) due to quarterly interest
(8,009*1.17)(24)
(9,360)(24)
9,360*24=224,640

in the actual room, the distance between the front and back walls is 8 feet. what is the actual length of the front wall, in feet?

Answers

Answer:

8 feet

Step-by-step explanation:

it actually will be 8 feet

23x25 = please help ​

Answers

Answer:

575

Step-by-step explanation:

23/4 = 5.75 times 100

Answer:

575

Step-by-step explanation:

23×25=575 so 575 would be your answer

How many pennies dose Michael please help please I need your help please please please please help

Answers

Answer: He has 91, to figure this out count everything in top row which is 13 and then count everything in left row only which is 7 and 13 x 7 is 91

Step-by-step explanation:

Use the fundamental identities to
Find tan s if sin s=3/4 and s is in quadrant 2

Answers

Answer:

Cosine Formula

Thus, the cosine of angle α in a right triangle is equal to the adjacent side's length divided by the hypotenuse. To solve cos, simply enter the length of the adjacent and hypotenuse and solve.

I am doing Khan Academy and I'm stuck on a question that said " What is another way to make 4.65 ? "
I learned it at school but I still need help on that Question.

Answers

Answer:

[tex]\frac{465}{100}[/tex] or [tex]\frac{93}{20}[/tex]

Step-by-step explanation:

You can always just multiply the by 100/100 to get any number into a fraction form. I am not sure if this is what you were asking, but here you go. Then you can simplify to get 93/20.

You gotta swag it aht twin

Rewrite the following equation in slope-intercept form. 17x − 4y = 20

Answers

Step-by-step explanation:

-4y= -17x+20

4y=17x-20

y= 4.25x-5

Slope intercept form

y=mx+b

[tex]\\ \tt\Rrightarrow 17x-4y=20[/tex]

[tex]\\ \tt\Rrightarrow 17x-20=4y[/tex]

[tex]\\ \tt\Rrightarrow y=17/4x-5[/tex]

Danielle earns a 7.75% commission on everything she sells at the electronics store where she works. She also earns a base salary of $800 per week. How much did she earn last week if she sold $4,700 in electronics merchandise? Round your intermediate calculations and answer to the nearest cent.

Answers

Answer:

1164.25

Step-by-step explanation:

24,761 divided by 24

Answers

Answer:

1031.70833333

Step-by-step explanation:

Find the value for x ​
(x+20) (4x-5)

Answers

Answer:

I think it x=33

Step-by-step explanation:

[tex]x+20+4x-5=180\\5x+15=180\\-15 -15\\5x = 165\\/5 /5\\x = 33[/tex]

Find the height of the trapezoid.
7 m
Area = 51 m2
10 m

Answers

The answer is 6

h = 2 A/a+b = 2 51/10+7 = 6

9. Given a scale factor of 3, find the coordinates for the dilation of a triangle with vertices at
(1 point)
(1 4). (4.5), and (2.0).
A 3.7). (7.8). (5.3)
B 3.4) (12,5), (6,0)
C 3.12). (12.15) (6.0)
D (112) (4.15) (2.0)

Answers

The coordinates for the dilation of a triangle is (3 12), (12.15), and (6.0).

If the coordinate (x, y) is dilated by a scale factor of k, the resulting coordinate will be at (kx, ky)

Given the coordinate of the triangle (1 4). (4.5), and (2.0), if this coordinate is dilated by a factor of 3, the resulting coordinates will be at (3 12), (12.15), and (6.0).

Hence the coordinates for the dilation of a triangle is (3 12), (12.15), and (6.0).

Learn more on dilation here: https://brainly.com/question/10253650

The following graph shows the system of equations?

PLS HELP

Answers

I think it’s the first choice because you start at -2 then you went up 6???

PLEASE SOMEONE HELP ME OH LORD PLEASE I BEG U

Answers

Answer:

It's 30 because there is an average of 30 days in a month and the person has to take 1mg a day for a month

Step-by-step explanation:

Hope this helps

May I get braineist pls?

C. 30 because 1mg every day and there are 30 days in a month

hlep me it is easy plssssssssssssss

Answers

Answer:

C. (10 - 2) ÷ 4

Step-by-step explanation:

To determine which expression represent a number that is one fourth as great as 10-2 the following logical reasoning has to be made:

Given that a number is raised that is a quarter as large as (10-2), the result of this mathematical operation must be divided by 4.

Thus, since 10 minus 2 is equal to 8 and 8 divided by 4 gives 2, the division is necessary as a mathematical operation.

So, since the only option that raises a division is option C, that's the correct option.

For shipping the retailer charges a $4.95 flat fee or 5.75% of the total purchase, whichever is greater. If Lucia's total purchase is $78.99, how much shipping will she pay? PLEASE ANSWER ASAP

Answers

ANSWER: $4.95

EXPLANATION:

So it’s asking us to find out if $4.95 dollars is more than 5.75% of 78.99.

So we need to find 5,75% of 78.99

To find percentage turn the percent into a decimal.

5.75% become 0.575

Now we have 0.575 x 78.99

That is 45.41925

Move the decimal over again and you get 4.541925

Round to the nearest hundredth to get

$4.54

$4.54 < $4.95

So the answer is &4.95

Find the missing side in the similar figures below

Answers

Answer:

e

Step-by-step explanation:

24*5/3=40

The answer would be E. Trust me on this one

Explain how to use the distributive property to find the product (3) (4 1/5) ​

Answers

Answer:

you didn’t answer my question correctly :(

Step-by-step explanation:

Today, both the soccer team and the basketball tear
had games. The soccer team plays every 3 days and the
basketball team plays every 5 days. When will both
teams have games on the same day again?


SHOW YOUR WORK PLEASE

Answers

On the 15th day

Explanation

You have to find which multiple they have the same and that would be 15

3: 3, 6, 9, 12, 15, 18, 21 and so on
5: 5, 10, 15, 20, 25 and so on

Answer:3 to 5

Step-by-step explanation:i took the quiz

ricky is a hardworking man who owns 6 hectares of land. in his will,he divided his lot equally among 7 sons. how much land will each of his son receive?
a. 0.68
b. 0.86
c. 68
d. 86 ​

Answers

Question:-

ricky is a hardworking man who owns 6 hectares of land. in his will,he divided his lot equally among 7 sons. how much land will each of his son receive?

a. 0.68

b. 0.86

c. 68

d. 86

Answer:-

Given,

Land owned by Ricky = 6 hectares

No. of sons = 7

Now,

6 ÷ 7 = 0.8571429 or 0.86

Each son will own 0.86 hectares of land. Option b. 0.86 is the answer.

What is the distance between points A and B?
A. 1/3
B. 1/2
C. 1 1/3
D. 1 1/2

Answers

Answer:

A. 1/3

Step-by-step explanation:

From 1 to ___, ____, and 2 is half and half that would be 2 and a half. the only solution would be 1/3

Answer:

boom

Step-by-step explanation:

What expression is equivalent to 8t-18-20t+14

Answers

Answer:2(4t-9-10t+7) is answer and for the next it 2(-6t-2)

What fraction of one hour (60 minutes) is represented by the following numbers of minutes? Simplify each fraction whenever possible. A sketch of a clock might help you
15 minutes =
20 minutes =

Answers

Answer:

[tex] \frac{1}{4} [/tex]

[tex] \frac{1}{3} [/tex]

) f(x) = 4x + 5, g(x) = 2/x;
Find (g • f)(3).

Answers

[tex]\text{Given that,}\\\\f(x) = 4x+5,~~~g(x) = \dfrac 2x\\\\\\f(3) = 4(3) +5 = 12 +5 = 17\\\\\\(g\circ f)(3)=g(f(3))=g(17)=\dfrac 2{17}[/tex]

Answer:

The answer is 2/17

Step-by-step explanation: Can I get brainliest again my answer was deletedee

Suppose a normal distribution has a mean of 79 and a standard deviation of 7. What is P(x ≥ 72)?

A. 0.84
B. 0.975
C. 0.025
D. 0.16

Answers

Approximately 65% of the distribution lies within one standard deviation of the mean, which is to say,

P(72 ≤ x ≤ 86) ≈ 0.65

Normal distributions are symmetric, so the percentage of values one standard deviation below the mean is equal to the percentage of values one standard deviation above the mean.

P(72 ≤ x ≤ 79) = P(79 ≤ x ≤ 86)

but since the sum of these make up P(72 ≤ x ≤ 86), we find

P(72 ≤ x ≤ 79) ≈ 0.65/2 = 0.325

Also due to symmetry, exactly half of the distribution lies to either side of the mean; namely,

P(x ≥ 79) = 0.5

It follows that

P(x ≥ 72) = P(72 ≤ x ≤ 79) + P(79 ≤ x)

P(x ≥ 72) = 0.325 + 0.5

P(x ≥ 72) = 0.825 ≈ 0.84

Answer: 0.84

Step-by-step explanation:

Use polynomial identities to multiply (5 - 4x3)(5 + 4x3). What identity did you use?

A. Difference of cubes identity
B. Difference of squares identity
C. Binomial Theorem
D. Square of a sum identity

Answers

[tex]\textit{difference of squares} \\\\ (a-b)(a+b) = a^2-b^2 \\\\[-0.35em] ~\dotfill\\\\ (5-4x^3)(5+4x^3)\implies [(5)^2-(4x^3)^2]\implies [(5^2)-(4^2x^{3\cdot 2})] \\\\[-0.35em] ~\dotfill\\\\ ~\hfill 25-16x^6~\hfill[/tex]

Help help help math math

Answers

Answer:

y=-1/2x-3

Step-by-step explanation:

Let's pick two points for slope.

[tex]\frac{-1+3}{-4-0}[/tex]

[tex]\frac{2}{-4}[/tex]

For the y-inctercept, the line intersect at the y-axis at (0,-3)

CHECK:

[tex]y=-\frac{1}{2} (-4)-3[/tex]

[tex]y=2-3[/tex]

[tex]y=-1[/tex]

Help help help math math

Answers

Answer:

Slope = 4

Step-by-step explanation:

Change in Y = 4

Change in X = 1

Slope = Δy/Δx = 4/1 = 4

❗NEED HELP ASAP PLEASE ❗

The value of -3 xy, for x= 2 and y= 3, is -18.

True False

Please give an explanation, thank you!!!​

Answers

Answer:

True

Step-by-step explanation:

-3 xy = -18

-3(2)(3) = -18

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