answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anna71 [15]
2 years ago
15

John Anderson bought a home with a 10.5% adjustable rate mortgage for 30 years. He paid $9.99 monthly per thousand on his origin

al loan. At the end of 5 years, he owes the bank $55,000. Now that interest rates have gone up to 12.5%, the bank will renew the mortgage at this rate or John can pay $55,000. John decides to renew and will now pay $10.68 monthly per thousand on his loan. (You can ignore the small amount of principal that has been paid.) What is the amount of the old monthly payment? What is the amount of the new monthly payment? What is the percent of increase in his new monthly payment?
Mathematics
2 answers:
kogti [31]2 years ago
8 0

Answer:

The original mortgage required a payment equal to $9.99 per every $1,000, so the total monthly payment = $9.99 x ($55,000 / $1,000) = $9.99 x 55 = $549.45

The new mortgage requires a payment equal to $10.68 per every $1,000, so the total monthly payment = $10.68 x ($55,000 / $1,000) = $10.68 x 55 = $587.40

The percent increase = [($587.40 / $549.45) - 1] x 100 = 6.91%

aliina [53]2 years ago
6 0
Old
9.99×55
=549.45
New
10.68×55
=587.4

((10.68÷9.99)−1)×100
=6.9%
You might be interested in
Kevin has had a checking account for a month. As he reconciles his account, Kevin notices that the dates on his check register d
Anika [276]
The most likely answer is D) <span>"The date that the check is written is usually a few days before it is cashed. We record when it was cashed and you record when its written". 

There is usually a delay between when you write someone a check (and record it in your ledger) and when that person cashes it (when the bank records it). </span>
7 0
2 years ago
A market analyst is developing a regression model to predict monthly household expenditures on groceries as a function of family
notka56 [123]

Answer:

Monthly household expenditures on groceries

Step-by-step explanation:

The response variable is the one for which measurements are desired and that depends on other variables.

In this case, family size, household income, and household neighborhood are independent variables, while the response variable is the monthly household expenditures on groceries.

8 0
2 years ago
Mike and Krista rent a jet ski while on vacation. The rental cost is represented by the function c(h)=50+20h, where the number o
Step2247 [10]

Answer:

130

Step-by-step explanation:

Given the equation of the relation as c(h) =50 +20 h where c(h) is the total cost for h hours and h is the number of hours of use, then to find the cost of jet ski if 4 hours were used will be;

c(h)=50 +20 h

c(4)=50 +20*4

c(4)=50 +80

=130

5 0
2 years ago
A television is 28.5 inches wide and 16 inches long.
Umnica [9.8K]

Answer:

  33 in

Step-by-step explanation:

The Pythagorean theorem tells you ...

  diagonal² = length² +width²

  diagonal² = (16 in)² +(28.5 in)² = 1068.25 in²

  diagonal = √(1068.25 in²) ≈ 32.684 in

The diagonal of the television is about 33 inches.

7 0
2 years ago
owen and needed to get his computer fixed he took it to the repair store the technician at the store worked on the computer for
meriva

To figure out this problem, let's set up an equation first to make it easier:

702.50 = 5.5x + 70

x = amount charged per hour

702.50 = 5.5x + 70

-70                   -70

-----------------------------

632.5 = 5.5x

/5.5       /5.5

--------------------

115   =   x

Owen was charged $115 per hour

7 0
1 year ago
Other questions:
  • Marcus baked a loaf of banana bread fora party . He cut the loaf into equal size pieces . At end of the party , there were 6 pie
    13·1 answer
  • A duck's mass at birth was 0.05 kilogram. The duck gained approximately 0.042 kilogram each week. After how many weeks is the du
    15·1 answer
  • Which of the following terms describes the object below?
    8·2 answers
  • A sequence is defined by mc024-1.jpg, and mc024-2.jpg. What is the seventh term?
    10·2 answers
  • Ester's choir wants to learn a new song for the school concert in 7 weeks. The song has 3016 lines. The choir learns an equal nu
    13·1 answer
  • Students have a choice between taking a test on paper or on the computer. Mrs. Gazi graphed the relationship between the number
    14·2 answers
  • Jana earns $25 per week for mowing the lawn and deposits the money into her savings account. The amount of money in Jana’s accou
    6·1 answer
  • Darnell is constructing a rectangle window frame. He measured the length, the width, and the diagonal as 26 inches, 32 inches, a
    15·2 answers
  • Let XXX and YYY be the following sets: X = \{9, 25\}X={9,25}X, equals, left brace, 9, comma, 25, right brace Y = \{1, 4, 9,16,25
    6·2 answers
  • What is the maximum value of this function? f(x)=−16x²+32x+20
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!