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

What is the quotient? -4/5 ÷ 2​

Answers

-2/5. because -4/5 times 1/2 is -2/5
The answer for the problem is -0.4

1038*472 please help

Answers

Answer:

443,226

Step-by-step explanation:

W LOOKS LIKE PAIN, DEM
Directions:
Plattbo ondorod patroof obere ca a pregl la tho endor boy
aro Motod conmocilag tbeca with longercato as you plot thom.
Start a new Une after the word "LINE ENDE.
• (1.-20)
(3,-20)
(3.-19)
(4,-10)
(4,-5).
(2,-7)
LINEENDS
(4, 21)
(S24)
(S, 20)
(1, 20)
(0, 19)
(4, 16)
(d, 14)
(3, 14)
(2, 15)
LINZENDS
(-8, 15)
(-8, 14)
(-4, 12)
(-4, 5)
(-5, 3)
(-6, 0)
(-6,-3)
(-5,-6);
(-4,-7)
(-4,-20)
(-5,-21)
(-6,-23)
(-4,-23)
(-4,-22)
(-3,-20)
(-3,-7)
(-1,-7)
(-1,-20)
(0.-22)
(0,-23)
(2,-23)
(1,-21)
(0,-20)
(0,-7)
(1,-6)
LINEENDS
(4,-5)
(5,-)
(9,-18)
(6,-19)
(6;-20)
(8,-20)
(6.-17)
(6.-8)
(3,-1)
(6, 1)
F2, -3)
(8,4).
(9, 7)
(10, 4)
(9, 2)
(8, 2)
LINEENDS
(-2, 5)
(-2. 12)
(2, 14)
(2, 15)
(0, 10)
(-1, 19)
(-1, 20)
(-5, 20)
(-5, 19)
(-6, 10)
(-8, 15)
(-9, 14)
(-10, 14)
(-10, 16)
(-6, 19)
(-7, 20)
(-11, 20)
(-11, 24)
(-10, 21)
(-9, 21)
(-9, 23)
(-8, 21)
(-6, 21)
(-5, 20)
LINEENDS
(-3, 15)
(-3, 16)
(-4, 17)
(-4, 19)
(-5, 18)
(-1, 18)
(-2, 19)
(-2, 17)
(-3, 16)
LINEENDS
(-i, 16)
(0, 16)
(-1, 15)
(-5, 15)
(-6, 16)
(-5, 16)
LINEENDS
(0,-7)
(2,-7)
(3,-8)
(3,-17)
W, 3)
(5, 4)
(3, 4)
(1, 3)
(0, 3)
(-1, 20)
(0, 21)
(2, 21)
(3, 23)
(3, 21)
Mystery Media
29

Answers

Answer:

Step-by-step explanation:

S

(4,-5)

(5,-)

(9,-18)

(6,-19)

(6;-20)

(8,-20)

(6.-17)

(6.-8)

(3,-1)

(6, 1)

F2, -3)

(8,4).

(9, 7)

(10, 4)

(9, 2)

(8, 2)

LINEENDS

(-2, 5)

(-2. 12)

(2, 14)

(2, 15)

(0, 10)

(-1, 19)

(-1, 20)

(-5, 20)

(-5, 19)

(-6, 10)

(-8, 15)

(-9, 14)

(-10, 14)

(-10, 16)

(-6, 19)

(-7, 20)

(-11, 20)

(-11, 24)

(-10, 21)

(-9, 21)

(-9, 23)

(-8, 21)

(-6, 21)

(-5, 20)

LINEENDS

(-3, 15)

(-3, 16)

(-4, 17)

(-4, 19)

(-5, 18)

(-1, 18)

(-2, 19)

(-2, 17)

(-3, 16)

LINEENDS

(-i, 16)

(0, 16)

(-1, 15)

(-5, 15)

(-6, 16)

(-5, 16)

LINEENDS

(0,-7)

(2,-7)

(3,-8)

(3,-17)

W, 3)

(5, 4)

(3, 4)

(1, 3)

(0, 3)

(-1, 20)

(0, 21)

(2, 21)

(3, 23)

(3, 21)

Mystery Media

Subtract:
(3x^3– 10x^2+ 13x) – (5x^3+ 4x² – 9x)
A. 8x^3 + 14x^2 - 22x
B. 8x^3 - 6x^2 + 4x
C. 2x^3 - 6x^2 - 4x
D. -2x^3 - 14x^2 + 22x

Answers

Answer:

D. -2x^3 - 14x^2 + 22x

Step-by-step explanation:

1) Remove parentheses.

3x³ - 10x² + 13x - 5x³ - 4x² + 9x

2) Collect like terms.

(3x³ - 5x³) + (-10x² - 4x²) + (13x + 9x)

3) Simplify.

-2x³ - 14x² + 22x

Ms Lewis is hiring a carpenter to repair her shed the cost of carpenter L is shown in the table
Part a. What is the initial cost and hourly rate of carpenter L?
Part B write an equation to repent the function
Part C. Carpenter n charges 60$ an hour and and additional 195$ for the materials needed what is the difference in cost between carpenter N and carpenter L
Initial cost __
rate per hour __
Equation__
difference in cost__

Answers

Based on the information given, it can be deduced that the initial cost will be $187 and the hourly rate is $72 per hour.

From the information given, the initial cost is $187. The cost for 2 hours is $259 and the cost for 3 hours is $331.

Therefore, the rate per hour will be:

= $259 - $187 = $72

The equation will then be:

= 187 + 72h

Lastly, the difference in the costs is $72.

Learn more about equations on:

https://brainly.com/question/13763238

(15 points) Critique Reasoning Jamie says that the
expressions 6x - 2x + 4 and 4(x + 1) are not
equivalent because one expression has a term
that is subtracted and the other does not. Do
you agree? Explain.
a

Answers

Answer:

they are the same

Step-by-step explanation:

6x - 2x + 4 ← collect like terms

= 4x + 4

and

4(x + 1) ← distribute parenthesis by 4

= 4x + 4

The 2 expressions are equivalent to 4x + 4

Answer:

No, Jamie is incorrect

Step-by-step explanation:

No, because in the expression 4(x+1)  you will first need to multiply 4 by x, your result is 4x, and then you multiply 4 by 1, you get 4, so the answer will be 4x+4.

Also in the expression 6x-2x+4  ,you will first need to subtract 2x from  6x, your result is 4x ,and then you add 4 , so the answer will be 4x + 4

Our final answer is:

6x-2x+4 = 4x + 4 and 4(x+1) = 4x + 4

Leora is finding the length of a horizontal line segment on a coordinate grid She subtracted the x coordinates and got
-17.5 What is her next step?
Add 17.5
Take the absolute value of -17.5
Add the y.coordinate values.
Round up to -17

Answers

Answer:

Take the absolute value of -17.5

Step-by-step explanation:

Answer:

2. Take the absolute value of ' - 17. 5 '

Step by Step Explanation:

The distance/length is always positive, so make sure to take the absolute value of -17.5

Helpppp pleaseeee ????

Answers

Answer:

LQ = 54

Median = 69

UQ = 94

Step-by-step explanation:

This list is already sorted for you, so you don't need to worry about that, otherwise you would need to sort the numbers in ascending order. To find the median, we do [tex]\frac{n+1}{2}[/tex], where n is the amount of numbers. This gives us 4, so the median is at position 4, so the median is 69. The lower quartile is simply [tex]\frac{n+1}{4}[/tex], so 2, so the lower quartile is 54. The upper quartile is [tex]\frac{n+1}{2} X 3[/tex], so 6, so the upper quartile is 94.

Please answer. I will give brainliest to the best answer

Answers

Answer:

b

Step-by-step explanation:

took the test a bit ago

need this soon please

Answers

Answer: pretty sure -7

Step-by-step explanation:

Answer:

-7

Step-by-step explanation:

(-80) - (-10) is -79

-70 / (+10) = -7

Choose the function that the graph represents.
Click on the correct answer.

Answers

Answer:

y=log_2 (x)

Step-by-step explanation:

We see that the graph passes though the point (2,1). So we can write:

log_a (2) = 1  => a = 2

So it's a log in base 2.

What is the value of x in the equation 8+4 = 2(x-1)2
O 5
11
o
2

o
13
2
O 7

Answers

Step-by-step explanation:

→ 8 + 4 = 2(x -1)

→ 12 = 2x - 2

→ 2x - 2 = 12

→ 2x = 12 + 2 = 14

→ x = 14/2 = 7

→ x = 7

hence, option D (7) is correct.

Hope this answer helps you dear ! take care

f(x)=3x-1 and g(x)=-2x+5

Answers

Answer:

Step-by-step explanation:

I need help on this math question

Answers

Answer:

84

Step-by-step explanation:

7 Sizes * 3 Lengths * 4 Colors = 84

-2(x-6)=6 help me out

Answers

Answer:

x = 9

Step-by-step explanation:

i took the quiz

[tex]\mathfrak{-2(x-6)=6} [/tex]

[tex]\mathfrak{-2x+12=6} [/tex]

[tex]\mathfrak{-2x=6-12} [/tex]

[tex]\mathfrak{-2x=-6} [/tex]

[tex]\boxed{\mathfrak{x=3} }[/tex]

The component form of vector vec w is vec w =(-25,10); Find- 1 5 vec w

Answers

Answer:

Let’s take a point each on the x, y, and z-axis as follows:

A (1, 0, 0) on x-axis

B (0, 1, 0) on y-axis and

C (0, 0, 1) on z-axis

unit vector

So, we have

|OA→| = 1 , |OB→| = 1, and |OC→| = 1

These vectors OA→, OB→, and OC→, each having magnitude 1 are Unit Vectors along the axes OX, OY, and OZ respectively. They are denoted by i⃗ , j⃗ , and k⃗  as shown in Fig. 1 above.

Step-by-step explanation:

58. What is the equation that best represents the graph (0,5) (3, 3) (6, 1)

Answers

y = -2/3x + 5
Hope this helps!

To check out a customer, a grocery store cashier needs 2 seconds to scan each item being purchased, as well as 30 seconds to process payment. If it takes 44 seconds to ring up a particular customer, how many items is the customer purchasing?

Answers

Answer:

7

Step-by-step explanation:

Let's say the customer has x items. For each item, we add 2 seconds. For 3 items, we need 2 + 2 + 2 = 2*3 seconds. For x items, we need 2 * x seconds. Then, we add the processing payment time of 30 seconds, so for x items, the total amount of time = 30 + 2 * x

Here, the total amount of time is 44, so we have

44 = 30 + 2x

subtract 30 from both sides to isolate the variable and its coefficient

14 = 2x

divide both sides by 2 to isolate x

x = 7

16,40 and 56 LCM
Solve this problem

Answers

Answer:

LCM = 2^4 x 5^1 x 7^1 = 560

Step-by-step explanation:

I hope this helps you !!
Answer:

I hope this helps you ✌️✌️

a length of top is stretched between the top edge of a building and a stake in the ground the head of the stake is at ground level. the rope also touches a tree that is growing half way between the stake and the building. if the tree is 38 ft tall how tall is the building?

Answers

The relationship between the rope, the building, the tree and the ground is an illustration of similar triangles and equivalent ratios.

The building is 76ft tall

The height of the tree is given as:

[tex]Height = 38ft[/tex]

The position of the tree is halfway between the building and the stake.

From the figure, the rope touches the top of the building, and the top of the tree.

This means that: the height of the building is twice the height of the tree.

So, we have:

[tex]Building=2\times 38ft[/tex]

[tex]Building=76ft\\[/tex]

Hence, the building is 76ft tall

Read more about similar triangles at:

https://brainly.com/question/14285697

The constraints of a problem are listed below. What are the vertices of the feasible region?
x+3y<=6
4x+6y>=9
x>=0
y>=0

Answers

The vertices of the feasible region of the constraints is (0,2.5)

How to determine the vertices?

The constraints are given as:

x + 3y ≤ 6

4x + 6y ≥ 9

x ≥ 0,  y ≥ 0

Express the inequalities as equations

x + 3y = 6

4x + 6y = 9

Make x the subject in x + 3y = 6

x = 6 - 3y

Substitute x = 6 - 3y in 4x + 6y = 9

4(6 - 3y) + 6y = 9

Expand

24 - 12y + 6y = 9

Evaluate the like terms

-6y = -15

Divide by 6

y = 2.5

Substitute y = 2.5 in x = 6 - 3y

x = 6 - 3 * 2.5

Evaluate

x = -1.5

So, we have:

(x,y) = (-1.5, 2.5)

Recall that: x ≥ 0,  y ≥ 0

This means that the feasible region must have positive coordinates or zero

So, we set x = 0

(x,y) = (0, 2.5)

Hence, the vertices of the feasible region of the constraints is (0,2.5)

Read more about feasible region at:

https://brainly.com/question/14381991

#SPJ1

Help help math math

Answers

Answer:

y = 1/2x + 3

Step-by-step explanation:

Y= mx+b is slope-intercept form, m is for slope, and b is for my y-intercept. Also remember the pitch is the rise over the run or the y-direction over the x-direction.

In our case, they highlight 2 points to calculate the slope; looking at the graph, we can see it rises one and runs two to get to the second highlighted point at (2,4). And my slope is rise over run, so here it 1/2.

My b or y-intercept is simply three because that is where the line passes over or intercepts the Y-axis

Answer: y = 1/2 x + 3

Step-by-step explanation:

How do you find the slope of a line given any 2 points on the line

Answers

Answer:

rise over run

Step-by-step explanation:

you look at the distance between the 2 points by looking at how many points its goes up or down, and you look at how points it goes from the left to the right or vice versa. but if you don't have a graph to look at, you will want to use the slope formula. look up the slope formula and plug it in.

Answer:

Step-by-step explanation:

From the point one on the graph, you go up (rise) making loops each time you go up (shown in red) then, once you've reached the same hight of point two, you go over (run), making loops once again (shown in blue). Then, you take the rise and put it over the run, so in the image attached it would be 4/3.

LAST ATTEMPT IM MARKING AS BRAINLIEST!! (Pythagorean theorem )

Answers

Answer:

x = √7km

Step-by-step explanation:

Answer:

21

Step-by-step explanation:

You take a right triangle and find the lengths of the two sides that are vertical and horizontal. Then, using the formula a^2 + b^2 = c^2, find the length of C

(aka: Hypotenuse)

hope this helps!

Find the equation of a line that passes through the points (1,-2) and (3,-4). Express your final answer in slope-intercept form.

Answers

[tex]\text{Given that,}\\\\(x_1,y_1) = (1,-2)~~ \text{and}~~ (x_2,y_2) = (3,-4)\\\\\text{Slope,}~ m= \dfrac{y_2-y_1}{x_2 -x_1} = \dfrac{-4+2}{3-1} = -\dfrac 22 = -1\\\\\text{Equation with given points,}\\\\y-y_1 = m(x-x_1)\\\\\implies y +2 = -1(x-1)\\\\\implies y = -x+1 -2\\\\\implies y = -x-1\\\\\text{This is the slope-intercept form(y =mx+b).}[/tex]

Answer:

y=-x-1

Step-by-step explanation:

m=(y2-y1)/(x2-x1)

m=(-4-(-2))/(3-1)

m=(-4+2)/2

m=-2/2

m=-1

y-y1=m(x-x1)

y-(-2)=-1(x-1)

y+2=-x+1

y=-x+1-2

y=-x-1

3. Vocabulary Suppose △MNP ∼△RST. How can you identify corresponding parts?

4. Reasoning Suppose △ABC ∼△TUV. Determine whether each pair of measures is equal.
a. the measures of ∠A and ∠T
b. the perimeters of the two triangles
c. the ratios of the sides BC/UV and AC/TV

5. Reasoning ＀e scale of a map is 1 in. : 100 mi. Is the actual distance between two towns 100 times the map distance between the two towns? Explain.

Answers

Similar triangles may or may not have congruent sides, but the ratio of the corresponding sides will always be congruent.

(3) Corresponding sides of △MNP and △RST

Given that △MNP ∼△RST.

This means that, the corresponding sides are:

MN and RSMP and RTNP and ST

(4) The equal measures

Given that △ABC ∼△TUV

This means that, the corresponding angles are equal, but corresponding sides are not.

So, the equal measures are:

(a). the measures of ∠A and ∠T (c). the ratios of the sides BC/UV and AC/TV

The unequal measure is:

(b). the perimeters of the two triangles

(c) Scale mapping

The scale mapping is given as:

[tex]Ratio = 1\ in : 100\ mi[/tex]

The above scale means that 1 inches on the scale represents 100 miles of the actual distance.

Take for instance, 5 inches would represent 500 miles.

500 is 5 times 100

Hence, the actual distance between two towns 100 times the map distance between the two towns

Read more about similar triangles at:

https://brainly.com/question/14285697

Identify the explicit formula for the sequence given by the following recursive formula:
(see picture below)

A) f(n) = 2 – 4(n – 1)
B) f(n) = –4 + 2(n – 1)
C) f(n) = 4 – 2(n – 1)
D) f(n) = –2 + 4(n – 1)

Answers

If f(n) = f(n - 1) + 4, then

f(n - 1) = f(n - 2) + 4

and substituting this into the first equation gives

f(n) = f(n - 2) + 2•4

Similarly,

f(n - 2) = f(n - 3) + 4

so that

f(n) = f(n - 3) + 3•4

and so on.

Note the pattern:

f(n) = f(n - k) + k•4

so that when k = n - 1, we have

f(n) = f(n - (n - 1)) + (n - 1)•4

or

f(n) = f(1) + 4 (n - 1)

so that

[D] f(n) = -2 + 4 (n - 1)

Layla missed 38 questions on her multiple choice math final that had a total of 200 problems. What percentage of questions did Layla answer correctly?

Answers

Answer:

81%

Step-by-step explanation:

200-38= 162

162/200= 81/100

81%

Can somebody please help me with this true or false algebra 1 question?

A relation that pairs each input with exactly one output is a function.

True or False​

Answers

I'll help.

The answer to your question is True!!

Dave and Kyle are 40 miles apart on a path when they start moving toward each other. Dave runs at a constant speed of 8 miles per hour, while Kyle walks at a constant speed of 5 miles per hour. How long does it take until they meet?

Answers

Answer:

About 3 hours

Step-by-step explanation:

together, they go 13 miles in one hour. 40/13 = 3 with remainder 1

Other Questions
I need an explanation to this plz help!! Determine whether each sequence below is arithmetic, geometric, or neither. Provide support for you conclusions. sequence1: 1/2, 7/6, 11/6, 5/2 the theory that a genetically determined, innate mechanism directs language development is known as the _____ approach. please help this is for a presentation.. Is the spongy parenchyma cell unicellular or multicellular? What is Transpiration ???! P(x)=.002x2+2.5x700 What is communication? Match each key idea from the text to how it is emphasized in an image.Senator Kennedy suffered crippling pain in hisback from football and wartime injuries and hadtwo operationsOn September 12, 1953, they married atSt. Mary's Church in Newport, Rhode IslandAt age 31, Jacqueline Kennedy was the first ladyThe image shows jacqueline and John F. Kennedyat their wedding receptionThe image shows President John F. Kennedyexting a building with his wife in 1961The image shows Jacqueline Kennedy leavingthe hospital with her husband can someone help plz I need help ASAP! please help ASAP! A circular plate has a radius of 13 centimeters.What is the area of the plate?Use 3.14 for . (1) Most Americans know that Uncle Sam is a nickname for the United States; however, few Americans know how the name originated. (2) Some historians believe the name comes from a nineteenth-century businessman from New York. (3) His real name was Samuel Wilson. (4) His neighbors called him Uncle Sam. (5) During the War of 1812, he won a government contract. (6) He was to supply beef to U.S. soldiers. (7) The beef was packed in barrels labeled U.S. to show that they belonged to the U.S. government. (8) Soldiers from New York saw the barrels. (9) They jokingly said U.S. stood for Uncle Sam Wilson. (10) The joke spread. (11) Soon, soldiers began using the nickname Uncle Sam to refer to the United States. (12) Civilians also began using the nickname Uncle Sam to refer to the United States. (13) In 1961, Congress recognized Samuel Wilson. (14) It passed a resolution honoring him as the original Uncle Sam. Which is the most effective way to combine sentences (11) and (12)? What is the solution to the system of equations shown below?y = -x-24y + 8 = xA. No solution B. (2,0)C. (0,2)D. Infinitely many solutions seora x no more study sync The function f(x) is shown graphed below. The function g(x) is defined by the formula: g(x)=-4f(x)+7What is the value of g(3)? I WILL GIVE BRAINLIEST Hey can someone tell me simply HOW to come to this conclusion? im a bit confiused as to how, dont want to cheat i want to learn. (P.S ive missed multiple grades which has left me with alot of gaps to fill.) (3-5i)^2i know the answer Im just confused on how to get to that point. Please and thank you! PLSSS help now!!!!!! Will mark Brainlyest !!! Leo solved the equation b = 12 a13 for a, but made an error. His work is shown. Complete the sentences that follow. 13. My (A) best friend, Lan, always is (B) late for school because (C) she goes to bed (D) late. 5. Why do you think the Lady Beaming Bright left the elixir of life to Mikado and not to her foster parents?