In Exercises 1-10, use P M T = P ( r n ) [ 1 − ( 1 + r n ) − n t ] to determine the regular payment amount, rounded to the nearest dollar. In terms of paying less in interest, which is more economical for a $150,000 mortgage: a 30-year fixed-rate at 8% or a 20-year fixed-rate at 705%? How much is saved in interest?
In Exercises 1-10, use P M T = P ( r n ) [ 1 − ( 1 + r n ) − n t ] to determine the regular payment amount, rounded to the nearest dollar. In terms of paying less in interest, which is more economical for a $150,000 mortgage: a 30-year fixed-rate at 8% or a 20-year fixed-rate at 705%? How much is saved in interest?
Solution Summary: The author calculates the monthly payment value for the 150,000 mortgage by substituting the values in the loan payment formula.
to determine the regular payment amount, rounded to the nearest dollar.
In terms of paying less in interest, which is more economical for a $150,000 mortgage: a 30-year fixed-rate at 8% or a 20-year fixed-rate at 705%? How much is saved in interest?
3. A different 7-Eleven has a bank of slurpee fountain heads. Their available flavors are as follows: Mountain
Dew, Mountain Dew Code Red, Grape, Pepsi and Mountain Dew Livewire. You fill five different cups full
with each type of flavor. How many different ways can you arrange the cups in a line if exactly two Mountain
Dew flavors are next to each other?
3.2.1
Business
What is the area of this figure?
5 mm
4 mm
3 mm
square millimeters
11 mm
Submit
8 mm
Work it out
9 mm
Chapter 8 Solutions
Thinking Mathematically plus NEW MyLab Math with Pearson eText -- Access Card Package (6th Edition)
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