Answer:
$711.23
Step-by-step explanation:
We assume the entire closing cost went to reducing the principal of the loan. Then the amount borrowed was $147,192.
<h3>Monthly payment</h3>The amortization formula tells you the monthly payment.
A = P(r/12)/(1 -(1 +r/12)^(-12t))
P is the principal, r is the annual rate, and t is the number of years.
The monthly payment is ...
A = $147,192(0.041/12)/(1 -(1 +0.041/12)^-360) ≈ $711.23
Jeff's monthly payment is $711.23.
Answer:
C. Both x is a function of y and y is a function of x
Step-by-step explanation:
A <u>function</u> is a relationship which assigns to each input (from the domain) value, a unique output (from the range).
y is a function of x means x is from domain, y is from range
x is a function of y means y is from domain, x is from range
1. Given
y is a function of x because for each x there is exactly one y corresponding to this x.
2. Rewrite expressing x in terms of y:
x is a function of y because for each y there is exactly one x corresponding to this x.