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BARSIC [14]
2 years ago
7

Charles and Cynthia are purchasing a house. They obtained a 30-year, $535,000 mortgage at an annual interest rate of 3.6% compou

nded
monthly.
Calculate their monthly payment on the loan. Round your answer to the nearest cent.
M
P
()(1 + 5)121
= (1 + £2) 12+ -
Their monthly payment will be $​
Mathematics
2 answers:
MA_775_DIABLO [31]2 years ago
8 0

Answer:$4,369.17

Step-by-step explanation:

Compound interest (A)= P(1 + r/n)^not

A = compound interest

P = principal

r = rate

n = number of times the interest is compounded in a year

t = Time

From our data,

R = 3.6%

T =30 years

P = $535000

n= 12

A = 535000(1 + 0.036/12)^12*30

A= 535000*2.94

A= $1,572,900

In 30 years, we have (30*12) number of months = 360 months

To get the amount paid monthly, we divide the compound interest by the total number of months they'll repay the loan

Monthly payment = $1,572900/360 = $4,369.17

vovangra [49]2 years ago
6 0

Answer:

$2432.35

Step-by-step explanation: Got it right on Plato

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Which hyperbola has one focus point in common with the hyperbola (y+11)^2/(15^2)-(x-7)^2/(8^2)=1
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\bf \textit{hyperbolas, vertical traverse axis }\\\\
\cfrac{(y-{{ k}})^2}{{{ a}}^2}-\cfrac{(x-{{ h}})^2}{{{ b}}^2}=1
\qquad 
\begin{cases}
center\ ({{ h}},{{ k}})\\
vertices\ ({{ h}}, {{ k}}\pm a)
\end{cases}\\\\
-------------------------------\\\\
\cfrac{(y+11)^2}{15^2}-\cfrac{(x-7)^2}{8^2}=1\implies \cfrac{(y-(-11))^2}{15^2}-\cfrac{(x-7)^2}{8^2}=1\\\\
-------------------------------\\\\
c=\textit{distance from the center to either foci}\\\\
c=\sqrt{a^2+b^2}\implies c=\sqrt{15^2+8^2}\implies \boxed{c=17}

now, if you notice, the positive fraction, is the one with the "y" variable, and that simply means, the hyperbola traverse axis is over the y-axis, so it more or less looks like the picture below.

now, from the hyperbola form, we can see the center is at (7, -11), and that the "c" distance is 17.

so, from -11 over the y-axis, we move Up and Down 17 units to get the foci, which will put them at (7, -11-17) or (7, -28) and (7 , -11+17) or (7, 6)

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2 years ago
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