Mark takes out a $238,000 mortgage for 30 years. Instead of paying his monthly payment of $1,220.09, he decided to pay $1,420.09. This leads to Mark paying off the entire mortgage in 22 years and 5 months. Mark calculates the percent of the total loan he pays back in interest with and without the extra payments. What is the difference between Mark's calculated percentages?

Answers

Answer 1

Answer:

24.04%

Step-by-step explanation:

Given that:

Mortgage = $238,000

Number of years = 30

Monthly payment without extra payment= $1220.09

Monthly payment with extra payment = $1420.09

Total amount paid :

Number of months * monthly payment

12 months = 1year

30 years = (30 * 12) = 360 months (without extra payment)

22 years 5 months = (22 * 12) + 5 = 269 months (with extra payment)

Amount paid without extra payment :

$1220.09 * 360 = $439232.4

Percentage of total loan paid as interest :

((439232.4 - 238000) / 238000) * 100%

= 0.8455142 = 84.55%

Amount paid with extra payment :

$1420.09 * 269 = 382004.21

Percentage of total loan paid as interest :

((382004.21 - 238000) / 238000) * 100%

= 0.6050597 = 60.51%

Difference between percentages:

84.55% - 60.51% = 24.04%


Related Questions

The blue figure is a translation of the black image. Write a rule to describe the translation.

Answers

Answer:

The point at the Origin was moved down 4 and right 2

Step-by-step explanation:

At Maple High, the cost to attend special events depends on whether a student has purchased a $10 discount card. Option A: The student buys a discount card. The cost is $5 per event. Option B: The student does not buy a discount card. The cost is $7.50 per event.

Answers

Answer:

a. See the attached picture for the graph and the excel file for how the graph is drawn.

b. The students at Maple High should choose Option A when attending more than 4 events; but they should choose Option B when attending less than 4 events

Step-by-step explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

At Maple High, the cost to attend special events depends on whether a student has purchased a $10 discount card.

Option A: The student buys a discount card. The cost is $5 per event.

Option B: The student does not buy a discount card. The cost is $7.50 per event.

a. Graph the relationship between total cost and number of events for each option.

b. Determine the condition under which the students at Maple High should chose each option.

The explanations to the answers is now given as follows:

Let x represent the number of events and y represents the total cost.

Options A and B can therefore be written as follows:

Option A: y = 5x + 10 ……………………………. (1)

Option B: y = 7.5x ……………………………….. (2)

a. Graph the relationship between total cost and number of events for each option.

Note: See the attached picture for the graph and the excel for how the graph is drawn.

In the excel, we assume figures for x from 1 to 10 and then calculate the associated y using equations (1) and (2) above

Also, the number of events (x) is on the horizontal axis while the total cost (y) is on the vertical axis.

The graph for Option A is the blue one while the graph for Option B is the red one.

b. Determine the condition under which the students at Maple High should chose each option.

From the graph in the picture and the attached excel file, the total costs (y) for each of Options A and B ar equal when the number of events (x) is equal to 4.

It can bee observed that when the number of events (x) is greater than 4, the total cost (y)  of Option A is less than the total cost (y) of Option B. Under this condition, Option A should be chosen.

On the other hand, when the number of events (x) is less than 4, the total cost (y)  of Option A is greater than the total cost (y) of Option B. Under this condition, Option B should be chosen.

Therefore, the students at Maple High should choose Option A when attending more than 4 events; but they choose Option B when attending less than 4 events.

The area of a rectangular garden is 6862 m².
If the width of the garden is 73 m, what is its length?

Answers

The length of the rectangle would be 94m.

Terence uses 1/3 pound of clay to make 5 ornaments. He uses the same amount of clay for each ornament. How much clay does Terence use for each ornament?

Which division expression represents this problem:
A - 3 / 1/5
B - 1/4 / 5
C - 5 / 1/3
D - 1/3 / 5

Answers

D. 1/3 / 5 is the correct answer

Will mark branilest!!!

Answers

Answer:

You could use 13+2x=t

x=number of weeks. t=total

13+2x=t brainiest please

Insert < or > in the area between the integers to make the statement true.
73
- 22
W
о O 73> - 22
0 <
73 < -22

Answers

Answer:

lol > bc a non negative number is more

Select all the situations that can be represented by the tape diagram. 99 W W W W W 4 Clare buys 4 bouquets, each with the same number of flowers. The florist puts an extra flower in each bouquet before she leaves. She leaves with a total of 99 flowers. Andre babysat 5 times this past month and earned the same amount each time. To thank him, the family gave him an extra $4 at the end of the month. Andre earned $99 from babysitting, A family of 5 drove to a concert. They paid $4 for parking, and all of their tickets were the same price. They paid $99 in total. 5 bags of marbles each contain 4 large marbles and the same number of small marbles. Altogether, the bags.contain 99 marbles. Han is baking five batches of muffins. Each batch needs the same amount of sugar in the muffins, and each batch needs four extra teaspoons of sugar for the topping. Han uses 99 total teaspoons of sugar.​

Answers

Answer:

Third one 33333333333333333

Answer:

2 and 3

Step-by-step explanation:

The equation of the diagram would be 99=5w+4

#2-the number Andre earned for the 5 times babysat, each earning the same, would be represented by the 5w. The extra 4 dollars would be represented by the 4. And the $99 for the total would be represented by the 99.

#3- the cost of the parking would be represented by the 4. The 5 tickets that they paid for would be represented by the 5w. And the 99 would be the total.

Need Help ASAP

How many weeks will it take to save $150 if I save $2.50 per week?

Answers

Answer: 60 weeks.

Step-by-step explanation: 150 divided by 2.50 = 60

150 divided by 2.50 equals 60 so the answer is 60 weeks :)

4. Solve each equation for x. (8 points: 2 points each)

a.) 3x-12y=27

b.) 6x-7y=-2

c.) 4x-k=17

d.) kx+c=9

Answers

Answer:

a. x = 9 + 4y

b. x = (7y-2)/6

c. x = (17 + k)/4

d. x = (9-c)/k

Step-by-step explanation:

In each of the equations, we want to make x the formula subject

a) 3x-12y = 27

3x = 27 + 12y

3x = 3(9 + 4y)

x = 9 + 4y

b) 6x-7y = -2

6x = 7y-2

x = (7y-2)/6

c) 4x - k = 17

4x = 17 + k

x = (17 + k)/4

d) kx + c = 9

kx = 9-c

x = (9-c)/k

A food truck is selling 2 burritos for $5.
Which of the following equations models the relationship between burritos and dollars?

Answers

Given that,

A food truck is selling 2 burritos for $5.

Solution,

We need to find the relationship between burritos and dollars.

2 burritos = $5

To find the value of 1 burrito. Divide 5 by 2 as follows :

[tex]1\ \text{burrito}=$\dfrac{5}{2}\\\\1\ \text{burrito}=$2.5[/tex]

Hence, the relation between burritos and dollars is " [tex]1\ \text{burrito}=$2.5[/tex]"

1. Factorize :
(a) 2x + 6


Answers

Answer:

2(x+3) is the correct answer

Step-by-step explanation:

2 × x=2x 2×3=6

2x+6

2(x+3)

Answer:

2x=6/:2

x=3

that's the answer

the Millers drove 105 miles on 4 gallons of gas. at this rate, how many miles can they drive on 6 gallons of gas.

Answers

Answer:

157.5 miles with 6 gallons

Step-by-step explanation:

105miles / 4gallons = 26.25miles per gallon

26.25miles per gallon * 6miles = 157.5 miles

What she said^^^^^^^^^^^^^

Slope = -2/3, y-intercept = 1
Write the slope-intercept form of the equation of each line given the slope and y-intercept ?


Answers

Answer:

The answer is y=-2/3x+1

Step-by-step explanation:

Remember the slope intercept is y=mx+b

Format: y = mx + b
m = slope, b = y intercept
Plug those in
Answer: y = -2/3x + 1

help, please I would appreciate it.

Answers

At firt we should solve what is h(0)
h(0)=0^2+2
h(0)=2
So then you should take the h(0) answer to g(x) and the result is g(2)= -2-5=-7

Find the slope between the points (-3, -5) and (7, -1)

Answers

Answer:

m  = 2 /5

Step-by-step explanation:

Answer:

k

Step-by-step explanation:

6 is the slope im pretty sure. i followed the slope formula rise over run

( y2-y1 / x2-x1 ) and got 6

In the school competition jenny bounced a ball 150 times in 3 minutes. Express her bouncing rate in its simplest form

Answers

Answer:

Jenny bounced the ball 150 times She did that over an interval of 3 minutes To express rate of change over an interval you do [tex] \frac{change \: in \: motion}{change \: in \: time} [/tex]So you get [tex] \frac{150}{30} = 50 \: bounces \: per \: minute[/tex]Please rate positively and give brainlist

Please help me. I do not understand this question.

Answers

Answer:

The true statement is h < k ⇒ (3)

Step-by-step explanation:

∵ The equation of the graph is y = [tex]\sqrt{x+h}[/tex] + k

(-h, k) are the coordinates of its vertex point

∵ -h is the x-coordinate of the vertex point

∵ x-coordinate of the vertex point is -3

∴ -h = -3

→ Divide both sides by -1

∴ h = 3

∵ k is the y-coordinate of the vertex point

∵ y-coordinate of the vertex point is 4

k = 4

∵ 3 < 4

→ That means h is smaller than k

h < k

The true statement is h < k

2.1 = t + 4.4 / 3 what does t equal

Answers

Answer:

0.63

Step-by-step explanation:

0.63

Is this a function if it is please show your work and explain why.

Answers

9514 1404 393

Answer:

  not a function

Step-by-step explanation:

When a left-side point originates more than 1 arrow, the relation is not a function. There are two such points here, so this relation is not a function.

The displacement function of a rock thrown straight up in the air is given by f(t) = -2t2 + 15.7t meters, where t is measured in seconds. Find the total distance travelled by the rock when it reaches the ground.

Answers

Answer:

0m

Step-by-step explanation:

The height of the rock as it  reaches the ground is zero i.e f(t) = 0

Substitute into the function to get t first as shown;

f(t) = -2t^2 + 15.7t

0 = -2t^2 + 15.7t

2t^2 = 15.7t

2t = 15.7

t = 15.7/2

t = 7.85secs

Get the total distance travelled by substituting t = 7.85 into the modeled equation;

Recall that:

f(t) = -2t^2 + 15.7t

f(7.85) = -2(7.85)^2 + 15.7(7.85)

f(7.85) = -123.245+123.245

Hence the total distance travelled by the rock when it reaches the ground is 0m

Peter leaves work and drives 10miles due south he then heads east for 11 miles to reach his home how far is Peter home from where he works round answer to nearest tenths place

Answers

Answer:

14.9 miles

Step-by-step explanation:

In the image below, the side of the triangle a, represents; "Peter leaves work and drives 10miles due south".

The side of the triangle b represents; "he then heads east for 11 miles to reach his home"

The distance between his work and home is represented by side c of the triangle.

This is a tight angle triangle, hence pythagoras theorem would be applied in solving it.

This theorem states that the square of the hypotenuse of a right angle triangle is equal to the sum of the squares of the other two sides;

This means we have;

c² = a² + b²

c² = 10² + 11²

c = √(100+121)

c = 14.87

Rounding off to the nearest tenths = 14.9

Which of the following graphs shows the solution set for the inequality below?

Answers

it should be A.
-1 to 3

Graph shows the solution set for the inequality which is the correct answer would be options (A).

What is inequality?

Inequality is the defined as mathematical statements that have a minimum of two terms containing variables or numbers is not equal.

What is a graph?

A graph can be defined as a pictorial representation or a diagram that represents data or values.

Given the system of inequalities as

y>2x-6 and y<2x +4

To determine the solutions, you first have to graph both of the lines in the problem.

y=2x-6 and y=2x +4. Then, to shift them to inequality, you have to shade the half-plane that they represent.

The solution is the space that they have in common. In this case, it will be on the right side of the graph.

Learn more about inequalities here:

brainly.com/question/20383699

#SPJ2

I'm stuck on this question:

What's 100 divided by 2?

Answers

Answer:

50

Step-by-step explanation:

100 into 2 parts is 50

Can y'all please solve this.....will give brainliest ^_^​

Answers

Answer: a) 1.1962

after sig figs it’s 1.2

b) 0.4321

after sig figs it’s 0.43

Step-by-step explanation:

Answer:

a.) x=1.2

b.) y 0.43

Step-by-step explanation:

A. I would start with the square root on top. That equals 6.004

Divide that by 5.019.

=1.1963

B. I would start with the radical. Solving the radical results in 3.9939

Then, square 3.04

That would equal 9.2416

3.9939/9.2416= 0.4322

expand and simplify

3(x-2)+2(4x-1)

Answers

Answer:

11x-8

Step-by-step explanation:

First you expand 3(x-2):  3x-6

3x-6+2(4x-1)

then expand  2(4x-1): 8r - 2

3x-6+8x-2

and then simplify 3x - 6 + 8x -2: 11x - 8

11x - 8

so the answer is 11x-8

Simplify: 11x-8

Expanded: 12x^2+11x+2

-8+4 - 7+9 - 2+(-5)
A)-9
B)-5
C)1
D)7

Answers

Answer:

A

Step-by-step explanation:

the answer is a 100% no cap

look at photo and tell me the answer​

Answers

Answer:

Step-by-step explanation:

El señor de las moscas trataba de dos personas que estaban enamoradas y no podían superarse y creo que eres estúpido

def

b

Answer:

STOP MAKIN FUNNY THINGS

Step-by-step explanation:

Did you know you could rate your own questions?
whyyyyy like whattt

Answers

lol that's cool because i didn't know either

Which expression is equivalent i^233? On edge

Answers

Answer:

C

Step-by-step explanation:

Remember the four basic power of i:

[tex]\begin{aligned}i^1&=i\\i^2&=-1\\i^3&=-i\\i^4&=1\end{aligned}[/tex]

We have:

[tex]i^{233}[/tex]

The trick here is to split the exponent into a number divisible by 4 plus the remainder. Notice that:

[tex]233=232+1[/tex]

And that:

[tex]232/4=58[/tex]

So, we can rewrite our exponent as:

[tex]=i^{4\cdot 58+1[/tex]

Using the properties of exponents:

[tex]=(i^4)^{58}\cdot i^1[/tex]

Since i to the fourth is simply 1:

[tex]=(1)^{58}\cdot i^1[/tex]

Simplify:

[tex]=1\cdot i^1[/tex]

Simplify:

[tex]=i[/tex]

Hence, our answer is C.

PLS HELP ASAP I MISSED THIS LESSON AND THIS IS DUE AT 11:59 THANK YOU

Answers

Answer:

x=8

Step-by-step explanation:

Answer:

x=8

Step-by-step explanation:

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