a) The price of the first flat is 700.000 $. 300.000 $ of this amount will be paid in cash and the rest with 3% interest in 20 years and in equal installments.   b) The price of the second flat is 900.000 $. 500.000 $ of this is in cash and the rest is paid with 3% interest under the same conditions Considering her payments at the end of the 20th year, which flat you would Mrs.Candice recommend to choose?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
icon
Related questions
icon
Concept explainers
Topic Video
Question

Mrs.Candice will receive a certain amount of money from the insurance as a result of her accident. Mrs.Candice, who has been renting for 25 years, wants to own a house with the money she will get from insurance. As a result of negotiations with Yuksel Real Estate, he was able to find two apartments, she will choose one of these two apartments. The landlords offered Mrs.Candice two payment plans. See the flat plans;

a) The price of the first flat is 700.000 $. 300.000 $ of this amount will be paid in cash and the rest with 3% interest in 20 years and in equal installments.

 
b) The price of the second flat is 900.000 $. 500.000 $ of this is in cash and the rest is paid with 3% interest under the same conditions Considering her payments at the end of the 20th year, which flat you would Mrs.Candice recommend to choose?
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra And Trigonometry (11th Edition)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
Introduction to Linear Algebra, Fifth Edition
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
College Algebra (Collegiate Math)
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education