2. a landlord wants to acquire an additional apartment building for $250,000. the new building
contains eight apartment units, which will each rent for $500 per month. the bank is willing to
loan the landlord the money for a long-term, 30-year loan at a 5.5 percent interest rate.
calculate the monthly payment and explain whether taking this loan for the new building is a
smart business decision. (10 points)

monthly payment is about $1422 (rounded)

"taking this loan would be a smart decision because even after paying off the loan, he is still making a handsome profit (because his income per month is more than his loan payment)."

Step-by-step explanation:

The loan is an annuity so we use the formula for annuity to find the monthly payments he has to make.

Where

PV is present value of the loan (250,000)

C is the monthly payment (what we are trying to find)

n is the number of months (30 years * 12 = 360 months)

r is the rate of interest per month ( i = 5.5%/12 = 0.0046)

Putting these values, we solve for C:

So monthly payment is about $1422 (rounded)

Since, each of the 8 apartments are going to be rented out at 500, total monthly income would be 8 * 500 = $4000

taking this loan would be a smart decision because even after paying off the loan, he is still making a handsome profit (because his income per month is more than his loan payment).

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step-by-step explanation:

to plot points   for x just start at the origin (middle) and go to the left however many times it say(if the number is a positive) if the number is a negative then go right however many times it says if it is 0 go nowhere

now keep you pencil there and go up however many times it says on y(if it is positive) if it is negative then go down however many times it says. if it says 0 go nowhere.

you have just plotted a point! now when you finish plotting all of them connect them with a ruler

plot each point as (-3, 7), (0,4), (3,1), (8,-4)   in the parenthesis on the left of the comma is x and the right is y.