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Ghella [55]
2 years ago
5

Arthur took out a 20 year loan for $60,000 at an APR of 4.4% compounded monthly. Approximately how munch would save if he paid i

t off 3 years early Apex A. $4516.32,B. $1129.08,C. $376.36,D.$877.96
Mathematics
2 answers:
Eduardwww [97]2 years ago
8 0
Monthly payments, P = {R/12*A}/{1- (1+R/12)^-12n}

Where R = APR = 4.4% = 0.044, A = Amount borrowed = $60,000, n = Time the loan will be repaid

For 20 years, n = 20 years
P1 = {0.044/12*60000}/{1- (1+0.044/12)^-12*20} = $376.36

Total amount to be paid in 20 years, A1 = 376.36*20*12 = $90,326.30

For 3 years early, n = 17 year
P2 = {0.044/12*60,000}/{1-(1+0.044/12)^-12*17} = $418.22

Total amount to be paid in 17 years, A2 = 418.22*17*12 = $85,316.98

The saving when the loan is paid off 3 year early = A1-A2 = 90,326.30 - 85,316.98 = $5,009.32

Therefore, the approximate amount of savings is A. $4,516.32. This value is lower than the one calculated since the time of repaying the loan does not change. After 17 years, the borrower only clears the remaining amount of the principle amount.
Arte-miy333 [17]2 years ago
7 0
It's $877.96 on APEX, taking the quiz currently.
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2 years ago
Quadrilateral A’B’C’D’ is a dilation of quadrilateral ABCD about point P. Quadrilateral ABCD is shown. Side AB is labeled 5. Sid
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Answer:  The correct option is (A) reduction.

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As shown in the given figure, the lengths of the sides of quadrilateral ABCD are as follows:

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And, the lengths of the sides of quadrilateral A'B'C'D' are as follows:

A'B'=1\dfrac{1}{4}=\dfrac{5}{4}~\textup{units},~~B'C'=1~\textup{units},~~C'D'=2\dfrac{1}{2}=\dfrac{5}{2}~\textup{units},\\\\D'A'=1\dfrac{1}{2}=\dfrac{3}{2}~\textup{units}.

We know that the dilation will be an enlargement if the scale factor is greater than 1 and it will be a reduction if the scale factor is less than 1.

Now, the scale factor is given by

S=\dfrac{\textup{length of a side of the dilated figure}}{\textup{length of the corresponding side of the original figure}}\\\\\\\Rightarrow S=\dfrac{A'B'}{AB}=\dfrac{\frac{5}{4}}{5}=\dfrac{5}{4\times5}=\dfrac{1}{4}

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1 year ago
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Answer: Would be 55% I hope this helps!

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Ramona's backyard is fenced and represented by parallelogram YARD with measures in meters. She installed a 12-meters fence to se
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The fencing line x is the height of a rectangle triangle of base = y, hypothenuse of 9 m, so we use Pythagoras theorem to solve:

hyp^2 = height^2 + base^2
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x^2 = 81 - y^2


we can see that x is also the height of another rectangle triangle of base = 15 - y, hypothenuse of 12 m, so we use Pythagoras theorem to solve:
hyp^2 = height^2 + base^2
12^2 = x^2 + (15 - y)^2

lets expand:
144 = x^2 + 225 - 30y + y^2

substitute x^2 from the first equation in the last:
144 = 81 - y^2 + 225 - 30y + y^2
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substitute in the fence equation:
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x^2 = 81 - 5.4^2
x = 7.2 m that is the length of the fence



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