Paying 13 mortgage payments instead of 12 per year can save to you thousands in interest cost. If you had a $175,000 mortgage at 6% for 30 years, how much extra would you have to pay per year to make 13 instead of a 12 mortgage mortgage payments per year? How much would you pay if you paid 1/12 of it per month?

Answers

Answer 1

You would pay $14,583.33 per month if you divided the mortgage amount into equal monthly payments.

To calculate the additional amount you would have to pay per year to make 13 mortgage payments instead of 12, we need to determine the monthly mortgage payment first.

Using the formula for a fixed-rate mortgage:

[tex]M = \dfrac{P(r(1 + r)^n)} { ((1 + r)^n - 1)}[/tex]

M = P(r(1 + r)^n) / ((1 + r)^n - 1)

Here:

M = Monthly mortgage payment

P = Principal amount (mortgage amount)

r = Monthly interest rate (annual interest rate / 12)

n = Total number of payments (number of years × 12)

Let's calculate the monthly mortgage payment first:

P = $175,000

r = 6% / 12 = 0.005

n = 30 × 12 = 360

[tex]M = 175,000 \times\dfrac{ (0.005(1 + 0.005)^{360})}{ ((1 + 0.005)^{360} - 1)}[/tex]

M = $1,049.91

With a monthly mortgage payment of $1,049.91, we can calculate the additional amount you would need to pay per year to make 13 payments instead of 12.

Additional payment per year = Monthly payment × 12 - Monthly payment

Additional payment per year = $1,049.91 × 12 - $1,049.91

Additional payment per year = $12,599.92 - $1,049.91

Additional payment per year = $11,550.01

Therefore, you would need to pay $11,550.01 extra per year to make 13 mortgage payments instead of 12.

Now, let's calculate the amount you would pay if you made equal monthly payments throughout the year (1/12 of the mortgage amount per month).

Amount paid per month = Mortgage amount / 12

Amount paid per month = $175,000 / 12

Amount paid per month ≈ $14,583.33

Thus, you would pay $14,583.33 per month if you divided the mortgage amount into equal monthly payments.

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Related Questions


Scott makes $12 per hour babysitting and $8 per hour working at the grocery store. He will need to make
at least $600 to buy a new computer

Answers

What am I solving for it doesn’t give a specific question.

Scott needs to work at least 30 hours to make at least $600 and buy a new computer.

Let's denote the number of hours Scott works as "x" for both babysitting and working at the grocery store.

For babysitting, he earns $12 per hour.

For working at the grocery store, he earns $8 per hour.

So, his earnings from babysitting are 12x dollars, and his earnings from working at the grocery store are 8x dollars.

He needs to make at least $600 to buy a new computer.

Therefore, we can write the equation:

12x + 8x ≥ 600

Combine the like terms:

20x ≥ 600

Now, solve for x by dividing both sides of the inequality by 20:

x ≥ 600 / 20

x ≥ 30

Hence, Scott needs to work at least 30 hours to make at least $600 and buy a new computer.

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Complete question:

"Scott earns $12 per hour babysitting and $8 per hour working at the grocery store. He wants to buy a new computer that costs at least $600. How many hours does Scott need to work, combining both jobs, to save up enough money for the new computer?"

Simplify the given equation

5x+2(x-3)=2x-1

A) 7x-3=-2x-1

B) 7x-6=-2x+2

C) 7x-6=-2x-2

Answers

Answer: B) 7x-6=-2x+2

Step-by-step explanation:

Somebody, can you you help me with these 2 questions?​

Answers

left question is 19 right question is 8


What is the approximate solution to this?

Answers

6x=In(6)
x= 1
- x In (6)
6

M*(x+y)+4y/(x^2-xy-y^2)=(x+2y)/(x^2-xy-Y^2),find the value of M

Answers

Answer: M  = [tex]\frac{x-2y}{x+y}[/tex]  

Step-by-step explanation:

[tex]\frac{M(x+y)+4y}{x^{2}-xy-y^{2} } =\frac{(x+2y)}{x^{2} -xy-y^{2} }[/tex]

M (x + y) + 4y = x + 2y (Multiply [tex]x^{2} - xy-y^{2}[/tex] in both sides)

M (x + y)  = x + 2y - 4y

M (x + y)  = x - 2y  (Divide (x+y) from both sides)

M  = [tex]\frac{x-2y}{x+y}[/tex]  

use the GCF to factor 16+6

Answers

Answer:

2 x (8 + 3)

Step-by-step explanation:

b) 16 + 6 = 2 x (8 + 3)

=> 22 = 2(11)

=> 22 = 22

Therefore, 2 x (8 + 3) is your answer.

the diameter of an iron ball used in putting the hot is 12cm the density of the iron is 7.89/cm3 calculate the mass of the ball in kg​

Answers

Answer:

Step-by-step explanation:

radius r of iron ball r=12/2=6 cm

volume of iron ball=4/3  πr³

=4/3π×6³

=288 π cm³

≈288×3.14

=904.32 cm³

density=7.89gm /cm³(unit not mentioned)

mass of iron ball=904.32×7.89=7135.0848 gm.=7.135 kg

288π×7.89≈7138.703 ≈7.139 kg (if density is 7.89 gm/cm³)

Identify whether the following expression is a polynomial. If it is, identify the type according to the number of terms.
6x^2 + x + 1

Answers

Answer:

The expression is a polynomial.

Trinomial (according to the number of terms)

Step-by-step explanation:

Given the algebraic expression, 6x² + x + 1:

A term comprises of a product of numerical coefficient and one of more variables raised to powers.  Like terms have the same variables and exponents.

While a polynomial is a term (or finite sum of terms), comprising of variables with positive or zero integer exponents. Strictly defined, the terms within a polynomial expression cannot include variables as a denominator.  

A monomial is a single-termed polynomial.

A binomial is a polynomial with two terms.

A trinomial is a polynomial that has exactly three terms.

With these given definitions, we can infer that the given polynomial expression, 6x² + x + 1,  is a trinomial, given that it has three terms:

6x² is the leading term with the highest degree or exponent. Specifically, the name of this term is quadratic, given its exponent of 2. x is a linear term, given its exponent of 1. 1 is a constant term.

Therefore, the given expression is a polynomial containing three terms, making it a trinomial.    

64091÷61=

PLZZ HELPPPPPPPPP

Answers

It’s 1050.672131

Round to how much your teacher prefers and that’s your answer

Answer:

1050.67213

Step-by-step explanation:

State the property that justifies each statement
if y + 6 = 45, then y = 39.

Answers

Answer:

Justified ✔

Below is the justification.

Step-by-step explanation:

39 + 6 = 45

=> 45 = 45 ✔

This work justifies that y does equal to 39.

Hoped this helped.

In the middle school debate club, 60% of the members are in sixth grade. If there are 18 sixth graders in the debate club, how many total members are there? Which types of lifts require spotters?

Answers

Answer:

48

Step-by-step explanation:

take 60% of 80, or 80 x .6

help with this question please!

Answers

Gotta subtract the triangle from the semi circle

Triangle: 1/2 base • height
= 1/2 (6) • 3
= 9

Then find the semi circle
(pi r^2)/2
= (3.14 • 3^2)/2
= 14.13

14.13 - 9 = 5.13 mm^2

Please help! WILL MARK BRAINLIEST

Answers

Answer:

2nd option is correct

.........................

Answer:

1 1/9 ft^3

Step-by-step explanation:

5/3*1*2/3=10/9*1=10/9

10/9=1 1/9

simplify this addition 2m+3m+(-6m)​

Answers

Answer:

-m

Step-by-step explanation:

2m+3m+(-6m)=2m+3m-6m

                      =5m-6m

                      =-m

Answer:

-m

Step-by-step explanation:

2m+3m+(-6m)​

Remove parentheses.

2m+3m-6m

Add and subtract.

-1m or -m

Hope this helps :)

At the grocery store, 3 apples cost $0.65. What is the cost of 8 apples?

Answers

Answer:

$1.76

Step-by-step explanation:

First we need to figure out the cost of one apple.

To do this, divide the cost by the amount.

That's .65/3, which equals .216666, but we should round that number to .22

So if one apple is 22 cents, and we need to know how much money 8 apples is, we times .22 by 8, which gives us 1.76

Hope this helps :))

At the grocery shop, the cost of 3 apples is $0.65 then the cost of 8 apples is $1.76.

What is an expression?

Mathematical actions are called expressions if they have at least two terms that are related by an operator and include either numbers, variables, or both. Adding, subtraction, multiplying, and division are all reflection coefficient operations. A mathematical operation such as reduction, addition, multiplication, or division is used to integrate terms into an expression.

The given information in the question,

The cost of 3 apples = $0.65

The cost of 1 apple = $0.65/3 = $0.22

The cost of 8 apples = $0.22 × 8 = $1.76.

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100 POINTS!!!!!! hELP ASAP EXAM
Show that ( + )^2 = ( + )( − ) + 2

Answers

Answer:

2+y=x÷2 y=5 x=23

Step-by-step explanation:

it was very eazy

Let that unknown one be x

[tex]\\ \rm\rightarrowtail x^2=x(-x)+2[/tex]

[tex]\\ \rm\rightarrowtail x^2=-x^2+2[/tex]

[tex]\\ \rm\rightarrowtail 2x^2=2[/tex]

[tex]\\ \rm\rightarrowtail x^2=1[/tex]

[tex]\\ \rm\rightarrowtail x=1[/tex]

Whats an easy way to focus and get my homework completed quickly?

Answers

Answer:

Have all devices that may distract you off or in another room. You should also work in a quiet place, such as a bedroom, library, etc.

Answer: set goals for the time you will be working. put away distractions and electronics. try to work in a quiet place. after working for a while, take a 5-10 minute break to walk around and drink water or eat a small snack. if it helps you, play non distracting music such as lofi or piano music. also stay hydrated while working. i like to write all of the things i have to do in order, and write the time i will be done by them. example

science 2 pm

history 2:45

art 3:15

hope this helps!

A series whose first two terms are -12 to -8 respectively and whose last term is 124

Answers

Answer:

first two terms are 6 and 3

Step-by-step explanation:

yuh <3

Geometry- Solve the portion. Question#4

Answers

Answer:

[tex]d=18[/tex]

Step-by-step explanation:

First let's write our equation[tex]\frac{6}{d-6} =\frac{4}{8}[/tex]Reduce

Definition -  reduction refers to the rewriting of an expression into a simpler form

We can reduce [tex]\frac{4}{8}[/tex] to [tex]\frac{1}{2}[/tex]

Our equation is now [tex]\frac{6}{d-6} =\frac{1}{2}[/tex]

Now we can cross multiply

Definition - given an equation between two fractions or rational expressions, one can cross-multiply to simplify the equation or determine the value of a variable.

[tex]d-6=12[/tex]

Add

We are adding because we want our variable to be on one side of the equation

[tex]d=18[/tex]

To check we can show our equation but instead of d we have 18

[tex]\frac{6}{18-6} =\frac{1}{2}[/tex]

Subtract and we get

[tex]\frac{6}{12} =\frac{1}{2}[/tex]

Which makes it true

Have a good day!

What is the y-intercept for the cubic function: 4x^3-3x^2+7?

(0,7)

(7,0)

(0,4)

(0.3)

Answers

The y-intercept for the cubic function: 4x^3-3x^2+7 is (0, 7)

Given the polynomial function 4x^3-3x^2+7, the y-intercept of the function occurs where the value of x is zero

Substituting x = 0 into the polynomial function will give;

y = 4x^3-3x^2+7

y = 4(0)^3-3(0)^2+7

y = 0 - 0 + 7

y = 7

Hence the y-intercept for the cubic function: 4x^3-3x^2+7 is (0, 7)

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Jocelyn has apples and apricots in a ratio of 250:15. How many apples does she have if she has 3 apricots?
HELP ASAPP

Answers

Answer:50

Step-by-step explanation:

15 : 5 = 3

250  : 5 = 3

Select the equation that is true.

6,714 ÷ 103 = 6.714
6,714 ÷ 103 = 67.14
6,714 ÷ 103 = 671.4
6,714 ÷ 103 = 6,714

Answers

None of them are correct but the one closest is the 2nd option

Answer:

if the three is meant to be a zero then the answer is B, 67.14

Step-by-step explanation:

Molly walked 3.45 miles on a hike. Her sister walked 1.23 miles. Her brother walked 0.85 miles.
How much farther did Molly walk than her brother and sister combined?
O 0.38 miles
1.37 miles
O 2.22 miles
O 5.53 miles

Answers

Answer:

1.37 miles

Step-by-step explanation:

First, you have to find out how far Molly's brother and sister walked combined. 1.25+0.85=2.08. Now you subtract that from Molly's distance, 3.45. 3.45-2.08-1.37 miles.

For what value of k does the equation 6(x+1)+2 = 3(k/5x + 1) +3 have no solution

Answers

This one is an interesting question.

Lets solve first the equation by isolation of the unknown x:

6x + 6 +2 = (3k / 5x )+3 +3

6x = (3k/5x) + 6 -6-2

6x = (3k/5x) -2

6x = (3k / 5x) - (10x / 5x)

6x = (3k-10x)/5x

6x*5x = 3k - 10x

30x² = 3k - 10x

30x² + 10x = 3k

30x² + 10x - 3k = 0

This is really interesting because this looks exactly like a polynomial function. So we know that there is no solution for a polynomial once the discriminant delta is strictly less than 0.

But delta = b² - 4ac where b = 10, a = 30 and c = -3k

So we need to solve delta < 0

100 - 4*30* (-3k) < 0

100 - 120*(-3)*k < 0

100 - (-360)k < 0

100 + 360k < 0

360k < -100

k < -100/360= -10/36

So there is no solution for all k strictly less than -10/36

Good luck

what is trigonometric functions​

Answers

a function of an angle, or of an abstract quantity, used in trigonometry, including the sine, cosine, tangent, cotangent, secant, and cosecant, and their hyperbolic counterparts.

Answer:

a function of an angle, or of an abstract quantity, used in trigonometry, including the sine, cosine, tangent, cotangent, secant, and cosecant, and their hyperbolic counterparts.

Step-by-step explanation:

hope this helps

Suppose that a box contains one fair coin (Heads and Tails are equally likely) and one coin with Heads on each side. Suppose further that someone else selects one of the two coins at random, tosses it three times, and gets the outcome {Heads, Heads, Heads}. In this problem, you will answer the following question in several parts: What is the probability that the chosen coin was the fair coin

Answers

Using conditional probability, it is found that there is a 0.1 = 10% probability that the chosen coin was the fair coin.

Conditional Probability

[tex]P(B|A) = \frac{P(A \cap B)}{P(A)}[/tex]

In which

P(B|A) is the probability of event B happening, given that A happened. [tex]P(A \cap B)[/tex] is the probability of both A and B happening. P(A) is the probability of A happening.

In this problem:

Event A: Three heads.Event B: Fair coin.

The probability associated with 3 heads are:

[tex]0.5^3 = 0.125[/tex] out of 0.5(fair coin).1 out of 0.5(biased).

Hence:

[tex]P(A) = 0.125 + 0.5 = 0.625[/tex]

The probability of 3 heads and the fair coin is:

[tex]P(A \cap B) = 0.5(0.125) = 0.0625[/tex]

Then, the conditional probability is:

[tex]P(B|A) = \frac{P(A \cap B)}{P(A)} = \frac{0.0625}{0.625} = 0.1[/tex]

0.1 = 10% probability that the chosen coin was the fair coin.

A similar problem is given at https://brainly.com/question/14398287

kyle has an indoor basketball court. the rectangular court has a perimeter of 200 feet. the length of the court is 12 feet less than three times the perimeter. write an equation to determine the dimensions of the court.

Answers

Answer:

200 x 3 - 12=588

A group of 100 students were asked if they study French Which statements are correct? Check all that apply.
or Spanish in school. The results are shown in this two-
way table.
5 students study both French and Spanish.
63 students study French.
Not
French
French
Total
2 students study neither French nor Spanish.
30 students study French, but not Spanish.
Spanish 5
63
68
63 students study Spanish.
תס
Not
Spanish
30
N
32
Total
35
65
100

Answers

Answer:

2 students study neither french or Spanish

go ahed and try im confuesd

Answers

Answer:

a and c and e

Step-by-step explanation:

Answer: I believe its proportional

Step-by-step explanation:

How does simple
interest show proportional reasoning and
relate to the percent equation?

Answers

Answer:

Ratios are proportional if they represent the same relationship. One way to see if two ratios are proportional is to write them as fractions and then reduce them. If the reduced fractions are the same, your ratios are proportional.

Step-by-step explanation:

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