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katen-ka-za [31]
1 year ago
8

Tony addison obtained a 20-year, $45,000 mortgage loan from united savings with an interest rate of 8.5%. his monthly payment is

$390.60. after the first payment, what is the new principal? $41,675.34 $42,395.68 $45,578.87 $44,928.15
Mathematics
1 answer:
Anna007 [38]1 year ago
4 0

As given,  

Loan amount is = $45000

Rate of interest = 8.5%

So, Tony's mortgage will attract an interest of:

45000\times\frac{8.5}{100} = $3825  (this is yearly)

And for 1st month it will be = \frac{3825}{12}=  $318.75  

As given, the first month's payment is $390.60 and this covers the interest Additional amount ($390.60 - $318.75 = $71.85) is a payment against the principle.

Hence, the new principle after the 1st month is $71.85 less than $45000

= 45000-71.85 = $44928.15

Hence, the last option $44928.15 is the correct answer.

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PQ = 9
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Note, there is a Q in each line

Combine the two lines: PQ + QR = PR

plug in the numbers to corresponding variables

9 + 28 = PR

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Answer:

Considering the prediction of people who will fill out the form and receive the refund, the company should expect its net profit to drop to:

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6 0
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Jing spent 1/3 of her money on a pack of pens, 1/2 of her money on a pack of markers, and 1/8 of her money on a pack of pencils.
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As per the problem

Jing spent \frac{1}{3} of her money on a pack of pens.

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Total fraction of money spent cab be given as below

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