Stuart is considering a 3/27 balloon mortgage with an interest rate of 4.4to purchase a house for $268,000. What will be his balloon payment at the end of 3 years?

$ 251,619.37        

Step-by-step explanation:

Given that :

Loan = $ 268,000

Interest rate = 4.4 % per annum

4.4%/12 months =   0.366% per month

: years to pay and years amortization

years x 12 months = months

Calculating the amount for he monthly amortization,

A = 1407.41

Therefore, the future value is given by :

where, FV = future value ( balloon balance)

            PV = present value (original balance)

            P = payment

            r = rate per payment

            n = number of payments

FV = 251619.37

Therefore, Stuart's balloon payment will be $ 251,619.37

c. y = 1/4 x + 5

step-by-step explanation:

first, put the equation of the line on the graph into slope-intercept form

(y = mx + b):   y = -4x + 8

second, a perpendicular line has to have "an opposite/reciprocal slope" to the original slope. so, find the "m" value in your original equation (it's -4, right? )

original slope: m = -4   perpendicular slope: change the sign to its opposite and find the reciprocal ("flip" the number)

new slope is now positive (b/c the original slope was negative 4), and it's 1/4 (not the original slope of 4 or 4/1)

, and

for

step-by-step explanation:

we can analyze the pattern at which the terms increase. let us denote , , , so that we can call

note the following:

the pattern: to get the next term value, we just add the next term number (e.g. 1st, 2nd, to the previous term value (term values are the given numbers in the question, 1, 3, 6, 10, 15,

from , to get to , we add

from , to get to , we add

etc.

we need to form a recursive formula, a formula that has the next term as a function of the previous term. so a possible recursive formula can be

, and for