Rhonda wants to take out a 30-year, $280,000 loan with a 4.4% APR. She is considering purchasing 2 points, which will decrease her APR by 0.125% per point. Each point will cost 1% of her loan. Compare her monthly payments WITH and WITHOUT the purchase of the points. HELP!!!

Given Information:

Loan amount = $280,000

Annual Percentage Rate = APR = 4.4% = 0.044

Number of years = 30

Required Information:

Monthly payment with points = ?

Monthly payment without points = ?

Monthly payment with points = $1,361

Monthly payment without points = $1,402.13

Step-by-step explanation:

The monthly payment can be found using,

P is the loan amount.

Where interest rate r is given by

Total number of payments n are given by

Monthly payment with points:

Rhonda is considering purchasing 2 points and each decreases APR by 0.125%

So the APR becomes

and the corresponding interest rate r is

Finally, the monthly payment is

Monthly payment without points:

Interest rate r is,

Monthly payment is,

So monthly payment with points is $1,361 and monthly payment without points is $1,402.13

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hope this ! have a great day.

-wfz

the camry sales+accord sale=828,000. to make it so the two numbers are 18 thousand apart and still equal 828,000, you first need to find out what half of 828,000 is. 828,000/2=414,000. for the two numbers to equal 828,000, you have to add the same amount as you subtract from the middle. in this case, the number is 9,000 because it's half of 18,000. to equal 828,000, you have to add 9,000 to 414,000 for the camry and subtract 9,000 from 414,000 for the accord. 414,000+9,000=423,000.

414,000-9,000=405,000.

423,000+405,000=828,000.

423,000-405,000=18,

hope it