i am taking a math 1332, my professor handed us out a paper that is due this coming Sunday and I have no clue how to do any of these questions. she wants us to show our work and write down how we solved it in steps for each question. can anyone help me out? i need help with letter c, d and e. The image is a bar and line graph illustrating the relationship between loan terms, total loan cost, and monthly payments. Here's a detailed explanation:**Graph Components:**1. **Bars:** - Each bar represents a different loan term: 5 years, 15 years, and 30 years. - The bars are divided into two sections: - **Blue section (bottom part of the bar):** Represents the original loan amount. - **Gray section (top part of the bar):** Represents the interest paid over the loan term.2. **Line:** - The black line with dots represents the monthly payment amount for each loan term. - The line decreases from left to right, indicating that as the loan term increases, the monthly payment decreases.**Description:**- **5-Year Term:** - The total cost (combination of loan amount and interest) is lowest but has the highest monthly payment. - **15-Year Term:** - The total cost is higher than the 5-year term and lower than the 30-year term. The monthly payment is lower than the 5-year term.- **30-Year Term:** - Has the highest total cost due to more interest accrued over a longer period, but has the lowest monthly payment.Overall, the graph demonstrates the trade-off between monthly payments and the total cost of a loan over different terms. Shorter terms result in higher monthly payments but lower total costs, while longer terms have lower monthly payments but higher total costs. **Signature Assignment Proposal Form****Course:** Math 1332 **Assignment Title:** Mathematics of Finance **Assignment ID:** (to be assigned)**Outcomes/Rubrics to be Assessed by the Assignment:**- Communication- Critical Thinking- Empirical and Quantitative Reasoning- Personal Responsibility- Social Responsibility- Teamwork**Assignment Description:****MATH 1332 Common Assessment Problem**Suppose you have a $60,000 loan with an annual percentage rate of 8% for 25 years.a. What are your required monthly payments?b. Suppose you pay off the loan in 15 years, rather than 25. What are the required monthly payments?c. Explain why there are differences in the total amounts you pay over the loan terms for the two scenarios.d. What would be the effect of paying the required monthly rate and an additional $100 each month on the cost of the two loans?e. Discuss the relationship between the total interest, loan amount, and monthly payment from the graphic below.**Diagram Explanation:**The diagram illustrates a bar chart comparing total interest, loan amount, and monthly payments over different loan terms: 5 years, 15 years, and 30 years. Each bar represents the breakdown of payments, highlighting how loan terms affect the financial components. The chart visually demonstrates the increase in total interest and how the monthly payment varies with loan duration.

Answered: Image /qna-images/answer/e1b6a668-acb9-4801-85cb-84913a95fbf3.jpg

Suppose you have a $60,000 loan with an annual percentage rate of 8% for 25 years. a. What are your required monthly payments? Suppose you pay off the loan in 15 years, rather than 25. What are the required monthly payments? b. Explain why there are differences in the total amounts you pay over the loan terms for the two scenarios. C. d. What would be the effect of paying the required monthly rate and an additional $100 each month on the cost of the two loan? Discuss the relationship between the total interest, loan amount and monthly payment from the graphic below. Total teret 15 y 0 y Lean term Syn

Suppose you have a $60,000 loan with an annual percentage rate of 8% for 25 years. a. What are your required monthly payments? Suppose you pay off the loan in 15 years, rather than 25. What are the required monthly payments? b. Explain why there are differences in the total amounts you pay over the loan terms for the two scenarios. C. d. What would be the effect of paying the required monthly rate and an additional $100 each month on the cost of the two loan? Discuss the relationship between the total interest, loan amount and monthly payment from the graphic below. Total teret 15 y 0 y Lean term Syn

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,...

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