(Score for Question 1: _ of 50 points)
1. Victor earns a gross annual income of $84.482 and is buying a home for $185,500. He is making a 15% down
payment and financing the rest with a 25-year loan at 4.25% interest
Monthly Mortgage Payment Per $1000 Borrowed
Rate 15-year 20-year 25-year 30-year
loan loan loan loan
3.00% 6.906 5.546 4.742 4.216
3.25% 7.027 5.672 4.873 4.352
3.50% 7.149 5.800 5.006 4.490
3.75% 7.272 5.929 5.141 4.631
4.00% 7.397 6.060 5.278 4.774
4.25% 7.523 6.192 5.417 4.919
4.50% 7.650 6.326 5.558 5.067
4.75%
6.462 5.701 5.216
5.00% 7.908 6.600 5.846 5.368
(a) What is the mortgage amount he will borrow?
(b) Can he afford this mortgage? Justify your response.
(c) What will his monthly mortgage payment be?
(d) What will his total payment for the house be?
(e) What is the amount of interest he will pay?
Answer

step-by-step explanation:

12: 00 p.m. to 7: 00 p.m. is a total of 7 hours.

4: 00 p.m. to 7: 00 p.m. is a total of 3 hours.

this means that from 4: 00 p.m to 7: 00 p.m. this represents 3/7 of what was lost from 12: 00 p.m. to 7: 00 p.m.

after knowing this, after doing 11,600 - 6,800 = 4,800

4,800 represents 3/7 of what was lost for 7 hours.

we then divide 4,800 by 3 which gets 1,600.

because we know that 1,600 represents 1/7 of how much water was lost, we just have to multiply by 7, which gets 11,200.   after adding 11,200 to how much water was left at 7: 00 p.m. which was 6,800. 11,200 + 6,800 = 18,000

this means that the pool originally had 18,000 gallons in the pool.

you can also check your work by doing 18,000 - 4(1600), which becomes           1800 - 6400 which gets you 11,600.

both graphs increase on their domain

neither graph has a y-intercept

step-by-step explanation:

the following points can be visualized easily from the graph