Lucy borrowed $73,250 to purchase a home. The bank offered her an APR of 3.15% for a term length of 20 years. Excel calculates the monthly payment to be $411.77. If she were to pay only the minimum payment for the lifetime of the loan, how much will Lucy be paying in interest?

Answers

Answer 1

Amount Lucy will be paying in interest will be $38,596.2  

Using the compound amount formula to get the amount after she will pay back after 20 years expressed as:

[tex]A =P(1+\frac{r}{n} )^{nt}[/tex]

A is the amount after 20 yearsr is the rate = 3.15% = 0.0315time in years = 20 yearsn is the compounding time = 12 (monthly)P is the amount borrowed =  $73,250

Substitute the parameters into the formula;

[tex]A=73,250(1+\frac{0.0315}{12} )^{20(12)}\\A= $73,250 (1.8761)\\A= \$137,421.49[/tex]

If Excel calculates the monthly payment to be $411.77, the amount paid for 20 years will be $411.77 * 240months = $98,824.8

Amount Lucy will be paying interest will be $137,421- $98,824.8 = $38,596.2  

Learn more on compound interest here: https://brainly.com/question/24924853


Related Questions

You bought a magazine for $2 and some erasers for $5 each. You spent a total of $12. How many erasers did you buy?​.

Answers

Answer:

2

Step-by-step explanation:

I got it right bro man my guy I got you

what is equivalent to 1 and 5/6?? and what is 3 and 1/6 equivalent to?​

Answers

Answer: 1.833 and 3.167

Step-by-step explanation:

1 and 5/6 is demonstrated with this equation:

[tex]1 + \frac{5}{6} , \\\\\frac{6}{6} + \frac{5}{6} = \frac{11}{6} = 1.833\\[/tex]

3 and 1/6 is demonstrated with this equation:

[tex]3 + \frac{1}{6}, \\\\\frac{18}{6} + \frac{1}{6} = \frac{19}{6} = 3.167[/tex]

Help help math math math

Answers

Answer:

[tex]slope = \frac{20 - 16}{5 - 3} [/tex]

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

[tex] = 2 \: is \: the \: answer[/tex]

The slope of the equation is 2.

What is the slope of an equation?

The slope of an equation shows a gradient line that measures the steepness of the line.

It can be expressed by using the formula:

[tex]\mathbf{slope = \dfrac{\Delta y}{\Delta x}}[/tex]

[tex]\mathbf{slope = \dfrac{y_2-y_1}{x_2-x_1}}[/tex]

From the parameters given;

The change in y distance from y2 to y1 The change in x distance from x2 to x1

[tex]\mathbf{slope = \dfrac{20-16}{5-3}}[/tex]

[tex]\mathbf{slope = \dfrac{4}{2}}[/tex]

slope = 2

Learn more about the slope of the equation here:

https://brainly.com/question/3493733

Hey mathematicians ! Can anyone help me with these problems please ! Will give brainly !

Answers

Answer:

77) YES , 78) YES , 79) NO , 80) YES

Step-by-step explanation:

77) 12/4=3 and 18/6=3 so YES

78) 30/6=5 and 40/8=5 so YES

79) 36/25=1.44 and 48/40=1.2 so NO

80) 15/5=3 and 13.8/4.6=3 so YES

Find the area of this parallelogram

Answers

Answer:

260

Step-by-step explanation:

A=bh

A=13 x 20

A=260

Write the equation in standard form.
y - 10=-2(x-8)

Answers

Answer:

2x + y = 26

Step-by-step explanation:

The standard form of a linear equation is   A x + By = C.

Simplify -2(x - 8)

Multiply -2 by -8

y - 10 = -2x + 16

2x + y - 10 = 16

Add 10 to both sides.

Add 16 and 10

Answer= 2x + y = 26

What is the slope of the line (1,4) (3,2)

Answers

Step-by-step explanation:

the slope is the ratio of "y coordinate change / x coordinate change".

so, in our case here

x changes by +2 (from 1 to 3).

y changes by -2 (from 4 to 2).

so, the slope is -2/2 = -1.

The slope is 567 ok thanks and love ya

The given number line shows the solutions to which inequality

Answers

Answer:

B (x-7<-6)

Step-by-step explanation:

x < 1

On a recent utility bill, the water/sewer/garbage portion of the bill was $92.43. This consisted of 74% of the total bill. To the nearest cent, what was the total amount of the utility bill?

Answers

Answer:

Step-by-step explanation:

$92.43 / 0.74 = $124.91

The total bill is equal to $124.9

What are percentages?

A percentage is a number or ratio that can be expressed as a fraction of 100. If we have to calculate the percent of a number, divide the number by the whole and multiply by 100. Hence, the percentage means, a part per hundred. The word percent means per 100. It is represented by the symbol “%”

Given here, the given bill as 74% of the total bill as $92.43

Thus the total bill must be = 92.43×100/74

                                            = $124.9

Hence, The total bill is equal to $124.9

Learn more about percentages here:

#SPJ2

How do I subtract fractions? Please explain step by step to get marked!

Answers

Answer:

Explained below :)

(I tried my best, sorry if it doesn't make sense.)

Step-by-step explanation:

Example: 1/4 - 1/8= ?

1: Find the common denominator (bottom number)

2: If the common denominator is 8 then you multiply 1/4 by 2/2 to get the denominator of 8. If you needed then you can multiply the other fraction to get the same denominator.

3: Once you get multiply that then you get 2/8 -1/8.

4: Subtract the numerator (top number) 1

5: Keep the numerator (8)

6: Your answer would be 1/8

I need help with this and i dont know how to do it

Answers

Answer:

  see attached

Step-by-step explanation:

In general, you plot the solution to an inequality by placing a dot at the bound, then extending a line in the direction indicated by the inequality.

If the inequality symbol is < or >, the dot will be an open circle.

If the inequality symbol is ≤ or ≥, the dot will be a solid dot. That is the kind of dot needed here.

The boundary (dot) location for x ≥ -8 is at -8 on the number line. The inequality indicates that values of x greater than that are in the solution set, so the line will be shaded to the right of the dot.

The boundary (dot) location for x ≤ -2 is at -2 on the number line. The inequality indicates that values of x less than that are in the solution set, so the line will be shaded to the left of this dot.

Since the values of x must satisfy both inequalities (the conjunction is "and"), the solution set is where the lines overlap—between -8 and -2 on the number line.

_____

Additional comment

I find it useful to write inequalities with the "arrow" pointing to the left. Here, the inequalities would be written ...

  -8 ≤ x and x ≤ -2

Note that x is in the middle when the far left number is less than the far right number. (-8 < -2). That means, the inequality can be written as the compound ...

  -8 ≤ x ≤ -2

When the inequalities are written in this way, with arrow(s) pointing left, the location of the variable relative to the constant is the location of the shaded line relative to the dot representing the constant. Here, the appearance of ...

  -8 ≤ x ≤ -2

effectively shows you that the number line is shaded between solid dots at -8 and -2.

if 10 people share 5 cookies , how much cookie does each person get

Answers

Answer:

1/2

Step-by-step explanation:

5 / 10 = 1/2

Carter goes out to lunch. The bill, before tax and tip, was $19.55. A sales tax of 3% was added on. Carter tipped 15% on the amount after the sales tax was added. How much tip did he leave? Round to the nearest cent.

Answers

Answer:

$3.02

Step-by-step explanation:

Convert the Percentage to decimals:

3% / 100% = 0.03

15% / 100% = 0.15

3% / 0.03 part:

19.55 * 0.03 = 0.5865

19.55 + 0.5865 = 20.1365

OR, since it was "adde on" you can just use 1.03:

19.55 * 1.03 = 20.1365

15% / 0.15 part:

20.1365 * 0.15 = 3.020475

Round to nearest cent: $3.02

---

Hey, hope this helped! If you want to say thank you, click the "Thanks" button, Rate 5 ★★★★★, and select the answer "The Brainliest!" - I appreciate it!

The ratio 5/8 to 10/9 has a unit rate of 9/16

True or false

Answers

Answer:

This is false.

Step-by-step explanation:

The easiest thing to do is notice that 8 goes into 16 whilst 9 doesn't so that shows 9/16 would not be the unit rate.

The ratio 5/8 to 10/9 has a unit rate of 9/16 is false.

What is a unitary method?

A unitary method is a mathematical way of obtaining the value of a single unit and then deriving any no. of given units by multiplying it with the single unit.

Given are two ratios 5/8 and 10/9.

The unit rate of (5/8) is (5/8)/(8/8) = 5/8 = 0.625 similary the unit rate of the ratio 10/9 is 1.11.

Now, the unit rate of 9/16 is 0.5625 which is not in the range of two ratio's unit rates.

learn more about the unitary method here :

https://brainly.com/question/28276953

#SPJ5

if 7 men and 5 womean have applied for job and 3 applicants are randomly selected from the probability that 2 are men​

Answers

The probability is around 60%-75%. Since you didn’t list answer choices I gave my best guess.

The  probability that 2 men are selected is 49/144

Probability is the likelihood or chance that an event will occur.

If 7 men and 5 women have applied for job, the total number of people that applied will be 12 people

Pr(2 men are selected) = 7/12 * 7/12Pr(2 men are selected) = 49/144

Hence the  probability that 2 men are selected is 49/144

​Learn more on probabaility here:https://brainly.com/question/24756209

How is 8/15 written as a mixed number?​

Answers

Answer:

8/15 is already a proper fraction, therefore it cannot be converted to a mixed number. Hope this helps!

Step-by-step explanation:

volume of
a
cone
are
The
and a cylinder
in 9
the ratio 1:9 respectively. The height and diameter
of
16cm and 14cm. The diameter of
the
28cm. Find the height of the cylinkes.
the
cone
are
15
cylinder

Answers

The given ratio of the volumes indicates that the volume of the cylinder is 9 times the volume of the cone.

The height of the cylinder is 12 cm

Reasons:

The given parameter are;

Ratio of the volume of the cone to the cylinder to the 1 : 9

The height and diameter of the cone  are; 16 cm and 14 cm

The diameter of the cylinder = 28 cm

Required:

To find the height of the cone:

Solution:

[tex]\displaystyle The \ volume \ of \ a\ cone = \frac{1}{3} \cdot \pi \cdot r^2 \cdot h[/tex]

[tex]\displaystyle The \ volume \ of \ the \ cone = \frac{1}{3} \times \pi \times \left(\frac{14}{2} \right)^2 \times 16 = \mathbf{ \frac{784}{3} \cdot \pi}[/tex]

Volume of a cylinder, V = π·r²·h

[tex]\displaystyle Radius \ of \ the \ cylinder = \frac{28 \, cm}{2} = 14 \, cm[/tex]

Volume of the cylinder, V = π × 14² × h = 2,352·π

The volume of the cylinder = 9 × The volume of the cone

Therefore;

[tex]\displaystyle Volume \ of \ the \ cylinder =9 \times \frac{784}{3} \cdot \pi = \mathbf{2,352 \cdot \pi}[/tex]

[tex]\displaystyle Height \ of \ the \ cylinder, \, h = \mathbf{\frac{2,352 \cdot \pi}{14^2 \cdot \pi}} = 12[/tex]

The height of the cylinder, h = 12 cm

Learn more about ratios here:

https://brainly.com/question/4713715

What dose f(-2)=3 mean?

Answers

function!

Step-by-step explanation:

this was a function that the answer (y) is equal to 3

and the X is equal to (-2)

Answer:

This is about a function evaluated at a particular point.  You don't get a formula for the function, but there is enough information to say that the ordered pair (-2, 3) is part of the function.

The function's name is f.

The -2 in parentheses is a value for the independent variable ("input"), often designated by the variable  x.

The 3 is the corresponding value of the dependent variable ("output"), often designated by  the variable y.

The expression can be read as:

"f of negative two is equal to 3"

"the value of f at -2 is 3"

what is 130mins into hours and minutes?​

Answers

Answer:

Step-by-step explanation:

1 Hour = 60 minutes

60  + 60 = 120 minutes

120 minutes = 2 hours

Add 10 minutes

2 hours 10 minutes = 130 minutes

Hello there. So there are 60 minutes in 1 hour, implying that 120 minutes must be 2 hours.

We need to get to 130 minutes.
We know it will be 2 hours and ____ minutes. 130 - 120 will leave us with 10 minutes. So in total we have 2 hours and 10 minutes.

In the form of a decimal, to work out 2 hours and 10 minutes, we’d need to take 10 and divide it by 60, since there is 60 minutes in an hour. 60/10 = 0.166 reoccurring. Now we can just add the 2 to 0.166 = 2.166667.

Two cities, A and B, are mapped on the coordinate plane. How far apart are they from each other?

Answers

I can’t help because I can’t see the coordinate plane.

Fill in the blanks so that the equation has infinitely many solutions.

5y + 6 + 7y = blank (6y + blank)

Answers

Answer:

  5y +6 +7y = 2 (6y + 3 )

Step-by-step explanation:

We can name the blanks 'a' and 'b'. Then we have ...

  5y +6 +7y = a(6y +b)

This will have infinitely many solutions when both sides simplify to the same expression.

  12y +6 = 6ay +ab

To have these expressions be the same, we must have ...

  12 = 6a . . . . same coefficient of y

  6 = ab . . . .  same constant

The first of these equations tells us ...

  a = 12/6 = 2

Then the second equation tells us ...

  b = 6/a = 6/2 = 3

The equation with the blanks filled in is ...

  5y +6 +7y = 2 (6y + 3 )

Morgan had 1/2 a box of candy left after the movie she ate 1/2 of that. On the way home and still had 8 pieces left. She give one to her Little brother. How many pieces of candy were in the box when Morgan bought it?

Answers

Answer:

16

Have a good day <3

Do not round the answer

Answers

Answer:

75.36

Step-by-step explanation:

 Using the formula C = 2πr, we can calculate circumference.

Since we are using 3.14 for π, we plug that and the radius in.

C = 2(3.14)(12).

When you multiply all that you get 75.36

What is the inverse operation of subtract 6?
O A. multiply by 6
O B. add 6
O C. subtract 6
O D. divide by 6

Answers

Inverse operation means the opposite and the opposite of subtract is add so your answer would be B. Add 6
the answer would be b

Malika knows that 230 - 39 = 191.
How can she use that to help her solve 233 - 42 = ?
Use the space and/or the lines below to answer.

Answers

Answer:

she has to minus just as she did before.

Step-by-step explanation:

230-39=191

233-42=191

the reason as to why they have the same answer is because it was first 230 but it later it was 233.so just minus as before.hope it will help goodbye

Answer:

See below

Step-by-step explanation:

She knows the answer is the same because both numbers are 3 higher than the other. She doesn't need to do anything.

the lcm of 5 and 8 is??

Answers

The least common multiple of 5 and 8 is 40. This is because when you go by multiples of 5 and 8 the multiple that is the “smallest number” (LCM) of both numbers is 40. :)

HELLLLPPPP QUICKKLLLYYYY PLLZZZ VIEW THE QUESTION IN THE PHOTO ATTACHED!!!!

Answers

Answer:

[tex]\sqrt{18a}[/tex]

Step-by-step explanation:

To insert the factor, you must first find its squared value, in this case, 3's squared number is 9 so.....[tex]3=\sqrt{9}[/tex]

Now with square roots, they multiply like any other number

so you end up with[tex]\sqrt{9}*\sqrt{2a} \\\sqrt{9*2a}\\\\\sqrt{18a} <------ ANSWER[/tex]

Please leave a thanks!!!

A town’s population increases at a constant rate. In 2010 the population was 56,000. By 2012 the population had increased to 81,000. If this trend continues, predict the population in 2016.

Answers

The approximate population in 2016 is 91, 604 population

Let the time taken by the population to increase be "t"Let the number of the population be P

The exponential equation representing the statement is [tex]P=P_0e^t[/tex]

If in 2010 the population was 56,000, then at t = 0, P0 = 56000

Substituting into the formula will give:

P = 56000

If by 2012 the population had increased to 81,000, then:

81000 =  56000e^12k

81000/56000 = e^12k

1.4464 = e^12k

ln1.4464 = 12k

0.3691 = 12k

k = 0.3690/12

k = 0.03076

Get the prediction of the population in 2016.

[tex]P = 56000e^{16(0.03076)}\\P=56000e^{0.49213}\\P = 56000(1.6357)\\P = 91,603.70[/tex]

Hence the approximate population in 2016 is 91, 604 population

Learn more on exponential function here:https://brainly.com/question/2456547

Draw the plot

Can someone plz help me with this

Answers

well, let's take a peek, hmmm the length is hmmm, how much is five times "x"? well 5 * x or just 5x, how about four more than that? well, just 5x + 4.

we know the width is hmmm how much is three times "x"? 3*x or just 3x, how about 2 less than that?  3x - 2.

Check the picture below.

Answer:

↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑^

Solve the equation for solutions over the interval ​[0​°, 360°​).
[tex]tan^{2}x + 7 tanx +8 =0[/tex]

Answers

Answer:

[tex]x=98.13^\circ,135^\circ,278.13^\circ,315^\circ[/tex]

Step-by-step explanation:

[tex]tan^2x+7tanx+8=0,[0^{\circ},360^\circ)[/tex]

[tex]tan^2x+7tanx+8=0[/tex]

[tex]u=tanx[/tex] <-- U-substitution

[tex]u^2+7u+8=0[/tex]

[tex](u+7)(u+1)=0[/tex]

[tex](tanx+7)(tanx+1)=0[/tex] <-- Replace u with tanx

[tex]tanx+7=0[/tex]

[tex]tanx=-7[/tex]

[tex]x=98.13^\circ,278.13^\circ[/tex]

[tex]tanx+1=0[/tex]

[tex]tanx=-1[/tex]

[tex]x=135^\circ,315^\circ[/tex]

Therefore, [tex]x=98.13^\circ,135^\circ,278.13^\circ,315^\circ[/tex]

Other Questions
Find the perimeter of the figure shown to the right. Pleasee help asap please help The accompong maroon festival celebrates the freedom the maroons received from the EnglishTrueFalse The Chromosomes separate & move AWAYfrom each other towards the POLES ofthe cell during:CytokinesisTelophaseAnaphaseProphaseMetaphasePlease answer Id appreciate it a lot Simplify. 46+2665651861866 24-(82)+6 I need help, please somebody answer Question 1 (1 point)When a transversal passes through two lines and the corresponding angles arecongruent, then the lines are parallel.TrueFalse What is a reason time lines are organized chronologically? How many grams of copper would you need to produce 50.0g of silver? 1 Cu + 2 AgNO3 ----> 2 Ag + 1 Cu(NO3)2 3. Hydrogen peroxide is used as an antiseptic to kill bacteria in cuts and abrasions. Many of these are catalase positive, yet they are still killed by the actions of hydrogen peroxide. Why does this occur Sleep disorders include which of these conditions? Check all that apply.narcolepsyinsomniaacidosisjet laghypothermia Today 60 students rode their bicycles to Coast Middle School. If this is 75% of the students at the school, how many students attend Coast middle School? read the followin from the day of the butterfly she picked up a leatherette case with lipstick in itthe main conflict in this scebtence is A candy company used 8 pints of chocolate tomake 2 boxes of candy. How much chocolate wouldthey need to make 6 boxes of candy? HELP PLSS ASAP PLEASE Approximately what portion of the box is shaded blue? In exchange for the national government assuming all of the states debts, the Southern states who were opposed to assuming the debts, were awarded what? Answer this please please I need 3 more brainiest can anyone help a girl out plz The independence movement in Haiti was led primarily by:A: Slaves.B: Mestizos and IndiosC: CreolesD: Peninsulares