Jamal has been approved for $125,000 loan, 30-year mortgage with an APR of 5.3%. He made a 10% down payment and is closing on Ap
2 answers:
Answer:
The total amount paid by Jamal will be $408.38
Step-by-step explanation:
Jamal has been approved for $125,000 loan.
Time or t = 30-year
r = 5.3% or 0.053
He made a 10% down payment, means 90% was loan.
This amount multiplied by rate.
=>
For per day value, divide this by 365.
= $16.335
Given is the deal is closing on April 5th. April has 30 days, so, there are 25 days left.
So, the final amount becomes = ≈ $408.38
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So, let's first focus on the first year:
the population then would be: 23000* (100+2)%
100% is the old population the 2% is the incease, so in total it's 102%, or 1.02 - the same number written differently.
So it will be 23000*1.02
After two years it will be 23000*1.02*1.02, and so on
so after x years it will be:
y=23000*
the population then would be: 23000* (100+2)%
100% is the old population the 2% is the incease, so in total it's 102%, or 1.02 - the same number written differently.
So it will be 23000*1.02
After two years it will be 23000*1.02*1.02, and so on
so after x years it will be:
y=23000*