Mathematics, 19.11.2020 09:10 vanessa791

Jaclyn and Henry secured a $225,000 mortgage at 5% annual interest for 20 years. This results in a monthly payment of $1484.90 and the interest paid in month one is $937.50. Assume they only make the minimum payment each month. How much is the balance reduced in month one? What is the beginning balance for month two?

Answers: 3

Show answers

Answers

Answer from: bri1623

$2422.4

$220155.2

Step-by-step explanation:

This question deals with simple interest.

How much the balance is reduced in month one is the sum of the monthly payment and the interest paid in month one. So:

1484.9 + 937.5 = $2422.4

The beginning balance for month two is the starting amount ($225000) subtracted by two times the sum of the monthly payment and the interest paid in month one. So:

225000 - 2(1484.9 + 937.5)

= 225000 - 2(2422.4)

= 225000 - 4844.8

= $220155.2

Answer from: Ackussinglake63

The answers for the 1st part is 547.40 and the answer for the 2nd part is 224,452.60

Answer from: Quest

step-by-step explanation:

i found the life tables for the year 2012.

life table of males at age 30. probability of dying between ages x and x+1

total population:

29–30 . . . . . . . . . . . . 0.001030

30–31 . . . . . . . . . . . . 0.001061

males:

29–30 . . . . . . . . . . . . 0.001420

30–31 . . . . . . . . . . . . 0.001448

white population

29–30 . . . . . . . . . . . . 0.001005

30–31 . . . . . . . . . . . . 0.001037

white males

29–30 . . . . . . . . . . . . 0.001372

30–31 . . . . . . . . . . . . 0.001399

non hispanic white population

29–30 . . . . . . . . . . . . 0.001083

30–31 . . . . . . . . . . . . 0.001116

non hispanic white males

29–30 . . . . . . . . . . . . 0.001477

30–31 . . . . . . . . . . . . 0.001503

jacob, non hispanic white male. 30 years old.

probability that jacob lives to be 30 years old.

since the given probabilities are probabilities of dying, i think we simply subtract it from 1 to get the probability of living. we will use the probability of non hispanic white male.

probability of living to be 30 y.o.

29 - 30 : 1 - 0.001477 = 0.998523

30 - 31 : 1 - 0.001503 = 0.998497

Answer from: Quest

hello umm i don't understand your question can you explain it more pls

step-by-step explanation:

Another question on Mathematics

Mathematics, 21.06.2019 15:50

In the following situation, determine whether you are asked to determine the number of permutations or combinations. then do the calculation how many ways are there to pick a starting five from a basketball team of twelve members? a. permutation; ps - 2520 b. combination; 1c, - 792 c. combination: 2cs - 2520 d. permutation; ps - 95040

Answers: 1

Answer

Mathematics, 21.06.2019 18:30

Deshawn uses 3/4 of a box of rice to cook dinner the portion he uses weighs 12 ounces right and solve an equation to find the weight of the full box of rice

Answers: 1

Answer

Mathematics, 21.06.2019 20:10

A. use the formula for continuous compounding with the original example: $1000 invested at 2% for 1 year. record the amount to 5 decimal places. use a calculator. b. compare it to the result using the original compound interest formula with n = 365 calculated to 5 decimal places. which has a larger value? explain.

Answers: 1

Answer

Mathematics, 21.06.2019 20:50

Ms.ortiz sells tomatoes wholesale. the function p(x)=-80x^2+320x-10, graphed below, indicates how much profit she makes on a load of tomatoes if she makes on a load of tomatoes if she sells them for 4-x dollars per kilogram. what should ms.ortiz charge per kilogram of tomatoes to make on a load of tomatoes?

Answers: 2

Answer

You know the right answer?

Jaclyn and Henry secured a $225,000 mortgage at 5% annual interest for 20 years. This results in a m...

Questions

Mathematics, 01.02.2021 22:40

What is the vertex of this quadratic function. (x-4)2 + 3 = 0...