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
Bad White
9 days 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:
zzz [9K]9 days ago
8 0

Answer:

Initially, the mortgage required a payment of $9.99 for each $1,000 borrowed, leading to a total monthly payment calculated as $9.99 x ($55,000 / $1,000) = $9.99 x 55 = $549.45

For the new mortgage, the payment is set at $10.68 per each $1,000, which gives a total monthly payment of $10.68 x ($55,000 / $1,000) = $10.68 x 55 = $587.40

The percentage increase can be calculated as [($587.40 / $549.45) - 1] x 100 = 6.91%

tester [8.8K]9 days ago
6 0
Previous
9.99×55
=549.45
Current
10.68×55
=587.4

((10.68÷9.99)−1)×100
=6.9%
You might be interested in
ΔMNO was dilated, then _____________, to create ΔYHQ.
babunello [8412]
The answer is rotated. When dilating figures, we either increase or decrease their dimensions. Knowing the scale factor is crucial as it indicates whether the figure enlarges or reduces; a positive scale factor suggests expansion, while a negative one indicates reduction. The center of dilation is where lines connecting the original and dilated shapes intersect. Conversely, to rotate a shape involves turning it around a designated fixed point known as the center of rotation.
8 0
3 days ago
Read 2 more answers
Square T was translated by the rule (x + 2, y + 2) and then dilated from the origin by a scale factor of 3 to create square T″.
AnnZ [9099]

Answer: OPTION C.

Step-by-step explanation:

It is essential to consider the following:

Dilation:

  • A transformation where the image retains the same shape as the original but differs in size.
  • Dilation maintains the order of points.
  •  Measurements of angles remain unchanged.

Translation:

  • A transformation that keeps the image identical in size and shape to the original.
  • Translation preserves the ordering of points.
  • The angle measurements do not change.

Consequently, since Square T underwent translation followed by dilation to form Square T'', we conclude that the rationale explaining why they are similar is:

Translations and dilations maintain the order of points; thereby, the corresponding sides of squares T and T″ are proportional.

6 0
26 days ago
Read 2 more answers
Find the value of x in the triangle shown below
lawyer [9240]
The value of x is 12. This can be found using the Pythagorean theorem with c equal to 13 and b equal to 5, where a equals x.
6 0
10 days ago
Read 2 more answers
Harry put blue and green marbles in a bag. Exactly 3/4 of the marbles in the bag are blue. Which of the following could be the t
tester [8842]

Answer:

D

Step-by-step explanation:

When you multiply 3/4 by A, B, or C, it results in a decimal value; however, multiplying 3/4 by 8 yields 6, which is a whole number.

3 0
26 days ago
Read 2 more answers
steven has 9 different shirts 5 different hats 4 different scarves. Steven thinks that if he picks just two of the three items o
Inessa [9000]

Answer:

Steven is mistaken.

Step-by-step explanation:

Steven has

  • 9 unique shirts
  • 5 unique hats
  • 4 unique scarves.

He selects only two out of the three types of clothing. The combinations can be calculated as

  • 9\cdot 5=45 options to select a shirt and a hat;
  • 5\cdot 4=20 options to select a hat and a scarf;
  • 9\cdot 4=36 options to select a shirt and a scarf.

In total, there are

45+20+36=101

different methods to choose just two out of the three clothing items.

As a result, 101 Steven is not correct.

6 0
28 days ago
Other questions:
  • Two coins are to be flipped. The first coin will land on heads with probability 0.6, the second with probability 0.7. Assume tha
    15·1 answer
  • 2 points) Sometimes a change of variable can be used to convert a differential equation y′=f(t,y) into a separable equation. One
    8·1 answer
  • An international polling agency estimates that 36 percent of adults from Country X were first married between the ages of 18 and
    5·1 answer
  • In general, the probability that it rains on Saturday is 25%. If it rains on Saturday, the probability that it rains on Sunday i
    11·1 answer
  • Uma balconista vendeu 70 centímetros de tecido a um freguês. Essa balconista preencheu corretamente a nota fiscal, escrevendo:
    8·1 answer
  • Three orders are placed at a pizza shop. two small pizzas, a liter of soda, and a salad cost $14; one small pizza, a liter of so
    8·1 answer
  • Andre says that any real number can go in either of the boxes and A will be a
    12·1 answer
  • Mr. Brown owned a house, which he rented for $60 a month. The house was assessed at $9000. In 1975 the rate of taxation was incr
    9·1 answer
  • In this triangle, the product of sin B and tan C is _____ , and the product of sin C and tan B is _______.
    5·2 answers
  • Crane Company reports the following for the month of June.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!