You have just arranged for a $1,640,000 mortgage to finance the purchase of a large tract of land. the mortgage has an apr of 6.4 percent, and it calls for monthly payments over the next 30 years. however, the loan has an eight-year balloon payment, meaning that the loan must be paid off then. how big will the balloon payment be?

Answers

Answer 1

The balloon payment is approximately $1,084,898.37.

To calculate the balloon payment, we first need to determine the remaining balance of the mortgage after the initial 22 years of payments (30 years total - 8 years).

Step 1: Calculate the monthly interest rate.

Monthly interest rate = Annual interest rate / 12

Monthly interest rate = 6.4% / 12 = 0.00533

Step 2: Calculate the number of payments made in 22 years.

Number of payments = 22 years * 12 months/year = 264 payments

Step 3: Use the formula for the remaining balance of a mortgage.

Remaining balance = [tex]P * [(1 + r)^n - (1 + r)^t] / [(1 + r)^n - 1][/tex]

Where:

P = principal amount of the loan

r = monthly interest rate

n = total number of payments

t = number of payments already made

Substitute the given values into the formula:

Remaining balance = $1,640,000 * [(1 + 0.00533)^360 - (1 + 0.00533)^264] / [(1 + 0.00533)^360 - 1]

Remaining balance = $1,084,898.37

The balloon payment is the remaining balance after 22 years. Therefore, the balloon payment is approximately $1,084,898.37.


Related Questions

Solve for y: 10y + 3.8 = 38.8

Answers

The solution for ( y ) is ( y = 3.5 ).

To solve for y in the equation [tex]\( 10y + 3.8 = 38.8 \)[/tex], follow these steps:

Start with the given equation:

[tex]\[ 10y + 3.8 = 38.8 \][/tex]

Subtract 3.8 from both sides to isolate the term with  y:

[tex]\[ 10y + 3.8 - 3.8 = 38.8 - 3.8 \][/tex]

[tex]\[ 10y = 35 \][/tex]

Divide both sides by 10 to solve for  y :

[tex]\[ \frac{10y}{10} = \frac{35}{10} \][/tex]

y = 3.5

So, the solution for ( y ) is ( y = 3.5 ).

5.5-x=-4.5-x. how do you solve this?

Answers

Final answer:

The equation 5.5 - x = -4.5 - x has no solution. After cancelling out the variable x, we are left with 5.5 = -4.5, which is a contradiction.

Explanation:

To solve the equation 5.5 - x = -4.5 - x, we first notice that the variable x is present on both sides of the equation. We can simply subtract or add x to both sides to cancel it out. This will give us an equation without variables:

5.5 - x + x = -4.5 - x + x

5.5 = -4.5

This equation suggests that 5.5 is equal to -4.5, which is not true. Therefore, we can conclude that there is no solution to the equation since the two sides of the equation do not balance.

Moreover, this type of equation is an example of a contradiction, meaning that it presents a statement that is inherently false regardless of the value of x. As there is no value of x that can make the equation true, we say that the equation has no solution.

Final answer:

The equation 5.5 - x = -4.5 - x simplifies to 5.5 = -4.5 when the x terms are cancelled out. Since 5.5 does not equal -4.5, the equation has no solutions.

Explanation:

To solve the equation 5.5 - x = -4.5 - x, we can first try to simplify it by adding or subtracting the same value from both sides. This method is based on the principle that whatever you do to one side of the equation, you must do to the other to maintain balance.

In this case, if we add x to both sides of the equation, the x terms will cancel out on both sides, which leaves us with 5.5 = -4.5. Here, we notice that both sides of the equation represent constant values and no longer contain the variable x.

Therefore, since 5.5 and -4.5 are not equal, we can conclude that there is no value of x that can satisfy this equation. This equation is a contradiction, which means there are no solutions.

Write an expression from the description. Then evaluate the expression. 8 less than the product of 5 and -4.

Answers

5(-4) - 8 is the expression.

Evaluate:
-20 - 8 
-28 is your answer

Answer:

5(-4) - 8 is the expression.

Evaluate: -20 - 8     -28 is your answer

Maria wants to find the product of 5 3/20 multiplied by 3 4/25 using decimals instead of fractions how can she rewrite the problem using decimals

Answers

The decimal for 5 3/20 is 5.15 
The decimal for 3 4/25 is 3.16

5.15 times 3.16

Answer:

[tex] 5.15\times 3.16=16.2740[/tex]

Step-by-step explanation:

Maria wants to find the product of [tex]5\frac{3}{20}[/tex] multiplied by[tex]3\frac{4}{25}[/tex]

First we change mixed fraction to fraction and then change into decimal.

#First fraction:  

Change mixed to fraction

[tex]5\frac{3}{20}\Rightarrow \dfrac{103}{20}[/tex]

Change fraction to decimal

[tex]\dfrac{103}{20}\Rightarrow \dfrac{103\times 5}{20\times 5}=5.15[/tex]

#Secondfraction:  

Change mixed to fraction

[tex]3\frac{4}{25}\Rightarrow \dfrac{79}{25}[/tex]

Change fraction to decimal

[tex]\dfrac{79}{25}\Rightarrow \dfrac{79\times 4}{25\times 4}=3.16[/tex]

Now we find the product of both decimal

[tex]\Rightarrow 5.15\times 3.16[/tex]

Using calculator product of 515 and 316 = 162740

Both number has decimal digits two

So, total number of decimal digits is 4

In multiply result write decimal before 4 digits from right.

Therefore,

[tex] 5.15\times 3.16=16.2740[/tex]

What are the values of the function y = –2x – 4 for x = 0, 1, 2, and 3?
A.0, –6, –8, –10
B.–4, –6, –8, –10
C.-4, –2, 0, 2
D.0, 6, 8, 10

Answers

y =-2x-4

x = 0, y = -2(0)-4 = -4

x=1, y = -2(1) -4 =-2-4 = -6

x=2, y = -2(2)-4 = -4-4 =-8

x=3, y = -2(3) - 4 = -6-4 =-10


Answer is B

Answer:

B

Step-by-step explanation:

During a certain period of time, a car can cover the distance of 120 miles, going at an average speed of 55 mph. What distance over the same period of time would cover a truck, going at an average speed of 44 mph

Answers

To solve this we'll use the relationship [tex]distance=rate*time[/tex]. First, we need to find the time in the first scenario:
[tex]120=55t[/tex]
[tex]t=\frac{24}{11}[/tex]

Then substitute this time into the second scenario:
[tex]d=\frac{24}{11}*44=24*4=96[/tex]

Find dy/dx by implicit differentiation 4x^3 + x^2y − xy^3 = 6

Answers

[tex]\bf 4x^3+x^2y-xy^3=6\\\\ -------------------------------\\\\ 12x^2+\left( 2xy+x^2\cfrac{dy}{dx} \right)-\left( y^3+x3y^2\cfrac{dy}{dx} \right)=0 \\\\\\ 12x^2+2xy+x^2\cfrac{dy}{dx}-y^3-3xy^2\cfrac{dy}{dx}=0 \\\\\\ x^2\cfrac{dy}{dx}-3xy^2\cfrac{dy}{dx}=y^3-12x^2-2xy \\\\\\ \cfrac{dy}{dx}(x^2-3xy^2)=y^3-12x^2-2xy\implies \cfrac{dy}{dx}=\cfrac{y^3-12x^2-2xy}{x^2-3xy^2}[/tex]

Answer: dy/dx = y^3 - 12x^2 - 2yx / x(x-3y^2)

Step-by-step explanation: Differentiate each term with respect to x, then solve for y.

I hope this helps you out!

If point a is located at coordinates (5, 3) and point b is located at coordinates (-3, 9), what is the distance from a to b if the units of the coordinated system are meters?

Answers

The distance from a to b if the units of the coordinated system are meters is 10m.

What is a line segment?

A line that has two endpoints and a fixed measurement is called a line segment.

It is given that point a is located at coordinates (5, 3) and point b is located at coordinates (-3, 9)

D = √[(x-p)² + (y-q)²]  

Substituting the points we get;

D = √[(-3 - 5)² + (9 - 3)²]  

D = √[(-8)² + (6)²]  

D = √[(64) + (36)]  

D = √100

D = 10

Hence, the distance from a to b if the units of the coordinated system are meters is 10 m.

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Final answer:

The distance between point A (5, 3) and point B (-3, 9) is calculated using the distance formula, resulting in a distance of 10 meters.

Explanation:

The question is asking for the distance between two points in a coordinate system. To find the distance between point A (5, 3) and point B (-3, 9), we can use the distance formula which is derived from Pythagorean theorem. The distance d between two points (x1, y1) and (x2, y2) is given by:

d = √((x2 - x1)² + (y2 - y1)²)

For point A and point B, we substitute the coordinates into the formula:

d = √((-3 - 5)² + (9 - 3)²)
= √(64 + 36)
= √100
= 10 meters

Therefore, the distance from A to B is 10 meters.

write a trinomial expression equivalent to (2x+5)(3x-2)

Answers

The required trinomial expression that is equivalent to  (2x+5)(3x-2) is 6x² + 11x - 10.

According to the question, we have to determine the trinomial expression that is equivalent to the  (2x+5)(3x-2).

What is a polynomial function?

A polynomial function is a function that applies only integer dominions or only positive integer powers of a value in an equation such as the quadratic equation, cubic equation, etc. ax+b is a polynomial.

Here,
Given expression in the question,
=  (2x+5)(3x-2)
Following the distributive property
= 2x (3x - 2) + 5 (3x - 2)
= 6x² - 4x + 15x - 10
= 6x² - 11x - 10

Thus, the required trinomial expression that is equivalent to  (2x+5)(3x-2) is 6x² + 11x - 10.

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Final answer:

The trinomial expression equivalent to (2x+5)(3x-2) is calculated using the FOIL method, resulting in 6x² + 11x - 10.

Explanation:

To write a trinomial expression equivalent to the product of two binomials, (2x+5)(3x-2), we perform the multiplication by using the distributive property (also known as the FOIL method).

Multiply the first terms: 2x × 3x = 6x²

Multiply the outside terms: 2x × (-2) = -4x

Multiply the inside terms: 5 × 3x = 15x

Multiply the last terms: 5 × (-2) = -10

Combine like terms:

6x² + (15x - 4x) - 10 = 6x² + 11x - 10

The trinomial expression equivalent to (2x+5)(3x-2) is 6x² + 11x - 10.

Please someone help me this is the second time I posted this question....

What is the equation, in point-slope form, for a line that goes through (8, −4) and has a slope of −5/6 ?

A. y−4=−5/6(x−8)
B. y+4=−5/6(x−8)
C. y−4=−5/6(x+8)
D. y+4=−5/6(x+8)
Please provide an explanation on how to do this.

Answers

[tex]\bf \begin{array}{lllll} &x_1&y_1\\ % (a,b) &({{ 8}}\quad ,&{{ -4}}) \end{array} \\\\\\ % slope = m slope = {{ m}}= \cfrac{rise}{run} \implies -\cfrac{5}{6} \\\\\\ % point-slope intercept \stackrel{\textit{point-slope form}}{y-{{ y_1}}={{ m}}(x-{{ x_1}})}\implies y-(-4)=-\cfrac{5}{6}(x-8) \\\\\\ y+4=-\cfrac{5}{6}(x-8)[/tex]

This graph shows the costs of purchasing two types of flowers. Which statement is true?

Flower A is less expensive than Flower B.
Flower B is less expensive than Flower A.
Flower A and Flower B cost about the same.

Answers

Flower B is less expensive

Hope this Helps (:

The graph shows the costs of purchasing two types of flowers.

Select some value [tex]x_0[/tex] for x and draw vertical line

[tex]x=x_0.[/tex]

This line intersects the graphs of Flower A and the graph of Flower B in points A and B, respectively. The point A lies on this vertical line higher than the point B. This means that y-coordinate of  point A is greater than y-coordinate of point B.

If y-coordinate of  point A is greater than y-coordinate of point B, then Flower A is more expensive than Flower B (or Flower B is less expensive than Flower A).

Answer: correct choice is B

What is the solution to the following system of equations? 3x-2y=12 and 6x-4y=24

Answers

Answer:

A. It has infinitely many solutions

Step-by-step explanation:

I took the Solving Linear Systems By Substitution Quiz on Edge

The given system of equations 3x-2y=12 and 6x-4y=24 has no solution.

As per the question, we have to determine the solution to the following system of equations, 3x-2y=12 and 6x-4y=24

What is the equation?

The equation is the relationship between variables and is represented as y =ax +b is an example of a polynomial equation.

Here,
Given a system of the equation,
3x-2y = 12
x = 12 + 2y / 3 - - - - -(1)
6x - 4y =24 - - - - -(2)
Put the value of equation 1 in the equation
6 (12 + 2y / 3) - 4y = 24
2 (12 + 2y) - 4y = 24
24 +4y - 4y = 24
24 = 24

Thus, the given system of equations 3x-2y=12 and 6x-4y=24 has no solution.

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the calendar shows the number of days carlota rides her bike each month. each time ahe rides her bike, she travels 10 miles.is it rwasonable to say that carlota will bike more than 500 miles in 6 months?

Answers

Yes if she rides her bike around 9 days each month she’ll be more than 500 miles in 6 months. (10 miles x 9 day x 6 months = 560miles)

A polygon has an area of 144 square inches and one of its sides is 10 inches long. If a second similar polygon has an area of 64 square inches, what is the length of the corresponding side in the second polygon?

Answers

Area is proportional to (side length)^2.
or, put it in another way,
side length is proportional to sqrt(area).

so for the given case,
area = 144, sqrt(area)=12, side length = 10.
area = 64, sqrt(area)=8, side length = X

By proportion,
X/8 = 10/12
solve for X
X=(10/12)*8=20/3 = 6 2/3 = 6.67 (approx.)

So side length of second polygon is approx. 6.67 in., or 6 2/3 inches.

Planes flies 2951 miles in 6.5 hours what is the speed of the airplane miles per hour

Answers

Divide 2951 by 6.5 to get the answer
2951mi/6.5 h = 454 mph


Is 1.0227 a rational number?

Answers

Yes it is, because it can be calculated by dividing two integers.

Rachel earned 34$, 34 in 4 hours at her job today

Answers

If you're asking how much she made per hour, it would be 8.5$

I really need help on this question

Answers

To find the slope, we need two points that are located on this line.

The following two points are on this line: (0,-4) and (3,1).

Let m = slope

m = (1 -(-4))/(3-0)

m = (1 + 4)/3

m = 5/3

The slope is 5/3.

The product of 2, and a number increased by 6, is -24

Answers

well not sure what the answer should be. if you are trying to find what x equals, it would be -18. If you need the equation, it would be 2*(x+6)=-24

The mathematical expression is,

⇒ 2x + 6 = - 24

And, The value of number = - 15

What is an expression?

Mathematical expression is defined as the collection of the numbers variables and functions by using operations like addition, subtraction, multiplication, and division.

Given that;

The algebraic expression is,

''The product of 2, and a number increased by 6, is -24''

Now,

Since, The algebraic expression is,

''The product of 2, and a number increased by 6, is -24''

Let a number = x

Hence, We can formulate;

⇒ 2x + 6 = - 24

Solve for x as;

⇒ 2x = - 24 - 6

⇒ 2x = - 30

⇒ x = - 15

Thus, The value of number = - 15

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What the answer to this

Answers

To round a number to the nearest hundreds, you will need to check the number in the tens position:
(1) If the number in the tens position is less that 5, then, all you will do is convert the tens and units of the original number to zeros and that's it.
(2) If the number in the tens position is 5 or more, then you will add one to the hundreds and then convert the tens and units to zeros.

Taking a look at the number we have (12,000), we will find that the number in the hundreds position is a zero, which means that the second case is invalid here.
This means that, the number might be any number whose tens is less than 5.
Examples:
12,010
12,019
12,045
12,049
12,022

A town's population has been growing linearly. In 2003, the population was 60000, and the population has been growing by 2700 people each year.

Write an equation for the population x years after 2003.

Answers

y=2700x+60000 hope that helps ;)

The ph of water samples from a specific lake is a random variable y with probability density function given by f (y) = $ (3/8)(7 − y) 2 , 5 ≤ y ≤ 7, 0, elsewhere. a find e(y ) and v(y ). b find an interval shorter than (5, 7) in which at least three-fourths of the ph measurements must lie. c would you expect to see a ph measurement below 5.5 very often? why?

Answers

Given that the ph of water samples from a specific lake is a random variable y with probability density function given by

[tex]f(y)= \left \{ {{ \frac{3}{8}(7-y)^2 \ \ \ 5\leq y\leq7 } \atop {0 \ \ \ \ \ \ \ elsewhere}} \right. [/tex]

Part A:

[tex]E(y)= \int\limits^\infty_{-\infty} {yf(y)} \, dy \\ \\ = \int\limits^7_5 {y \left(\frac{3}{8}\right)(7-y)^2} \, dy\\ \\ = \frac{3}{8}\int\limits^7_5 (49y-14y^2+y^3)dy \\ \\ = \frac{3}{8} \left[ \frac{49}{2} y^2- \frac{14}{3} y^3+ \frac{1}{4} y^4\right]^7_5 \\ \\ = \frac{3}{8} [(1,200.5-1,600.67+600.25)-(612.5-583.33+156.25)] \\ \\ = \frac{3}{8} (200.08-185.42)= \frac{3}{8} (14.66)=5.5[/tex]



Part B:

[tex]E(y^2)= \int\limits^\infty_{-\infty} {y^2f(y)} \, dy \\ \\ = \int\limits^7_5 {y^2 \left(\frac{3}{8}\right)(7-y)^2} \, dy\\ \\ = \frac{3}{8}\int\limits^7_5 (49y^2-14y^3+y^4)dy \\ \\ = \frac{3}{8} \left[ \frac{49}{3} y^3- \frac{14}{4} y^4+ \frac{1}{5} y^5\right]^7_5 \\ \\ = \frac{3}{8} [(5,602.33-8,403.5+3,361.4)-(2,041.67-2,187.5+625)] \\ \\ = \frac{3}{8} (560.23-479.17)= \frac{3}{8} (81.06)=30.4[/tex]

[tex]V(y)=E(y^2)-[E(y)]^2=30.4-(5.5)^2=30.4-30.25=0.15[/tex]



Part C:

Let the required interval be (5, b), then

[tex]P(5\leq y\leq b)= \frac{3}{4} \\ \\ \Rightarrow \int\limits^b_5 {\left(\frac{3}{8}\right)(7-y)^2} \, dy = \frac{3}{4} \\ \\ \Rightarrow\int\limits^b_5 {(49-14y+y^2)} \, dy=2 \\ \\ \Rightarrow \left[49y-7y^2+ \frac{1}{3}y^3\right]^b_5=2 \\ \\ \Rightarrow (49b-7b^2+\frac{1}{3} b^3)-(245-175+41.67)=2 \\ \\ \Rightarrow \frac{1}{3} b^3-7b^2+49b-113.67=0 \\ \\ \Rightarrow b=5.74 [/tex]

Therefore, an interval shorter than (5, 7) in which at least three-fourths of the ph measurements must lie is (5, 5.74).



Part D:

[tex]P(5\ \textless \ Y\ \textless \ 5.5)=\int\limits^{5.5}_5 {\left(\frac{3}{8}\right)(7-y)^2} \, dy \\ \\ = \frac{3}{8}\int\limits^{5.5}_5 {(49-14y+y^2)} \, dy=\frac{3}{8}\left[49y-7y^2+ \frac{1}{3}y^3\right]^{5.5}_5\\ \\ \frac{3}{8}[(269.5-211.75+55.46)-(245-175+41.67)]=\frac{3}{8}[113.21-111.67] \\ \\ \frac{3}{8}(1.54)=0.5775[/tex]

Since, the probability that a ph measurement is below 5.5 significant (i.e. 57.75%), we would expect to see a ph measurement below 5.5 very often.

Jordan is playing a video game. For every 35 stars she collects, she gets 4,000 points. Her record is 86,000 points. Which of the following proportions could she use to determine x, the number of stars she needs to tie her record?

Answers

E. 
Fractions are just division.
In order for her to find the number of stars she needs to divide to find out how many she needs. 
Hello! I can help you with this! So, she get's 4,00 points for every 35 stars she gets. That proportion would be 35/4,000 = x/86,000 or it could be 4,000/35 = 86,000/x, because you don't know the amount of stars collected, but you know the total amount of points she earns. The proportions can be formatted a bit differently as long as they give you the same answer. The answers are A and E.

23,769 rounded to the nearest thousand

Answers

24,000... This should not be college mathematics unless there's something missing. 

Find the volume of this cuboid? 1.7m 2.3m and 0.8m

Answers

Just multiply all of the numbers together. 1.7 x 2.3 x 0.8 :)

Analyze the diagram below and complete the instructions that follow.
Find the value of x and the value of y.

A.x = 15, y = 10
B.x = 20, y = 50
C.x = 50, y = 10
D.x = 50, y = 20
Answer is C x=50 y=10

Answers

Answer:

C. [tex]x=50[/tex], [tex]y=10[/tex]

Step-by-step explanation:

We have been given an image of two intersecting lines. We are asked to find the value of x and y for our given diagram.

We know that when two line intersect each other, then vertical angles are congruent.

Using vertical angles theorem, we will get a system of equations as sown below:

[tex]3y=x-20...(1)[/tex]

[tex]5x-100=y+140...(2)[/tex]

From equation (1), we will get:

[tex]x=3y+20[/tex]

Upon substituting this value in equation (2), we will get:

[tex]5(3y+20)-100=y+140[/tex]

[tex]5*3y+5*20-100=y+140[/tex]

[tex]15y+100-100=y+140[/tex]

[tex]15y=y+140[/tex]

[tex]15y-y=y-y+140[/tex]

[tex]14y=140[/tex]

[tex]\frac{14y}{14}=\frac{140}{14}[/tex]

[tex]y=10[/tex]

Therefore, the value of y is 10.

To find the value of x, we will substitute [tex]y=10[/tex] in equation (1) as:

[tex]3*10=x-20[/tex]

[tex]30=x-20[/tex]

[tex]30+20=x-20+20[/tex]

[tex]50=x[/tex]

Therefore, the value of x is 50 and option C is the correct choice.

Answer:

Option C) x = 50, y = 10

Step-by-step explanation:

We are given a two pairs of vertically opposite angle in the image.

Vertically opposite angle is formed when two lines intersect anf they are always equal.

Thus, we can write:

[tex]3y = x -20\\\Rightarrow x - 3y = 20\\5x-100 = y +140\\\Rightarrow 5x - y =240[/tex]

Solving the two equations in two variable, we get:

[tex]x - 3y = 20\\5x - y =240\\\text{Multiplying first equation by 5}\\5x - 15y = 100\\\text{Subtracting the equations}\\5x - 15y-(5x-y) = 100-240\\-14y = -140\\y = 10\\ x - 3(10) = 20\\x = 20 + 30\\x =50[/tex]

The value of x is 50 and y is 10.

Steven bagged 52 pounds of potatoes. About what is that measure in kilograms? Round to the nearest hundredth

Answers

1 pound = 0.454 kilogram

52 x 0.454 = 23.608

Rounded to nearest hundredth:
23.61 kilograms

How do you simplify sqrt of x^20?

Answers

[tex]\bf \sqrt{x^{20}}\implies \sqrt{x^{10\cdot 2}}\implies \sqrt{(x^{10})^2}\implies x^{10}[/tex]

Mrs.Cranston bought five bottles of water for $0.90 each and 8 pounds of meat. She paid a total of $26.90 for these items, not including tax. What was the price per pound of the meat?

Answers

water = 5 bottles * $0.90 = $4.50
meat = 8 pounds * x amount.

Total = water + meat prices = $26.90
26.90 = $4.50 + 8x
22.40 = 8x
2.8 = x

The price per pound of meat is $2.80.

The beads in 7 bracelets if 4 bracelets have 96 bead

Answers

96/4=24 beads in 1 bracelet
beads in 7 bracelets = 24*7=168
Other Questions
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