The monthly payment for purchasing the home will be $457.85.
<h3>What is a monthly payment?</h3>
The term loan refers to a sort of credit vehicle in which a sum of money is lent to another party in exchange for the value or principal amount being repaid in the future.
Then the formula of monthly payment (MP) will be
In order to purchase a home, a family borrows $110,000 at 2.9% for 30 years.
We have
P = $110,000
r = 0.029 / 12 = 0.0024
n = 30 × 12 = 360
Then the monthly payment will be
On further solving, we have
MP = 110000 × 0.0024 × 1.723
MP = $ 457.85
More about the monthly payment link is given below.
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Answer: $8.75 for 250 vitamins.
Step-by-step explanation:
To find how much each vitamin costs we can divide $5.25 by 150.
5.25/150 = 0.035. So each vitamin is equal to $0.035.
We can then multiply the cost of 1 vitamin by 250.
0.035 x 250 = 8.75 or $8.75.
We can also make an equation for this problem. Let the total cost be equal to y and each vitamin equal to x.
y = 0.035x
So the equation above states that the total cost, y, is the amount of vitamins that are bought.
According to the associative property of equality: (a + b) + c = a + (b + c) we can see that the parenthesis do not mean anything when we are only doing addition.
So answers 1. and 3. are correct.
<em>Thanks Associative Property!</em>
