Mathematics, 29.10.2019 04:31 avision42

Alex took out a 7/1 variable-rate mortgage for $140,000. the interest rate for

the first period was fixed at 5.25%, and the loan was amortized over 30 years.

at the end of the initial loan period, the interest rate was 6.75%, plus a 1.5%

margin. what will the unpaid balance on his mortgage be after his initial

period expires?

a. $123,740.97

b. $126,805.34

c. $123,739.09

d. $122,773.09

Answers: 3

Show answers

Answers

Answer from: Quest

i believe your answer is b.

good luck!

cutie~

Answer from: Quest

answer: this is not a question

step-by-step explanation: this is a answer

Answer from: Quest

x= 1

step-by-step explanation: convert 5\frac{11}{12}5

to improper fraction. use this rule: a \frac{b}{c}=\frac{ac+b}{c}a

ac+b

3.25+0.5x+1\frac{1}{3}+\frac{5}{6}x=\frac{5\times 12+11}{12}3.25+0.5x+1

5×12+11

2 simplify 5\times 125×12 to 6060

3.25+0.5x+1\frac{1}{3}+\frac{5}{6}x=\frac{60+11}{12}3.25+0.5x+1

60+11

3 simplify 60+1160+11 to 7171

3.25+0.5x+1\frac{1}{3}+\frac{5}{6}x=\frac{71}{12}3.25+0.5x+1

4 simplify \frac{5}{6}x

x to \frac{5x}{6}

3.25+0.5x+1\frac{1}{3}+\frac{5x}{6}=\frac{71}{12}3.25+0.5x+1

5 convert 1\frac{1}{3}1

to improper fraction. use this rule: a \frac{b}{c}=\frac{ac+b}{c}a

ac+b

3.25+0.5x+\frac{1\times 3+1}{3}+\frac{5x}{6}=\frac{71}{12}3.25+0.5x+

1×3+1

6 simplify 1\times 31×3 to 33

3.25+0.5x+\frac{3+1}{3}+\frac{5x}{6}=\frac{71}{12}3.25+0.5x+

3+1

7 simplify 3+13+1 to 44

3.25+0.5x+\frac{4}{3}+\frac{5x}{6}=\frac{71}{12}3.25+0.5x+

8 simplify 3.25+0.5x+\frac{4}{3}+\frac{5x}{6}3.25+0.5x+

to \frac{13.75}{3}+\frac{4x}{3}

13.75

\frac{13.75}{3}+\frac{4x}{3}=\frac{71}{12}

13.75

9 simplify \frac{13.75}{3}

13.75

to 4.5833334.583333

4.583333+\frac{4x}{3}=\frac{71}{12}4.583333+

10 subtract 4.5833334.583333 from both sides

\frac{4x}{3}=\frac{71}{12}-4.583333

−4.583333

11 simplify \frac{71}{12}-4.583333

−4.583333 to \frac{4}{3}

\frac{4x}{3}=\frac{4}{3}

12 multiply both sides by 33

4x=\frac{4}{3}\times 34x=

×3

13 simplify \frac{4}{3}\times 3

×3 to \frac{12}{3}

4x=\frac{12}{3}4x=

14 simplify \frac{12}{3}

to 44

4x=44x=4

15 divide both sides by 44

x=1

Answer from: Quest

answer is

step-by-step explanation:

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Alex took out a 7/1 variable-rate mortgage for $140,000. the interest rate for

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