The Ayoub's family would like to borrow $60,000 to purchase a home. They qualified for an annual interest rate of 4.8%. Algebraically determine the fewest number of whole years the Ayoub's family would need to include in the mortgage agreement in order to have a monthly payment of no more than $720.

They will have to include a total number of 10years in the Mortgage agreement

Step-by-step explanation:

In this question, we have a family seeking to finance their house project by getting a loan at a rate of 4.8% per annum. We now need to know the number of possible years that the family would have to include in the mortgage agreement so that they won’t pay more than $720 per month.

Firstly let’s have a parallel unit of time. If they are paying $720 per month, this means per year, the amount to be paid would be $8,640 per year. Let’s say the total number of years in which they would be repaying the loan would be t years; this means the total amount they would be repaying is $8,640t

Now we know that this total amount is indicative of the principal amount borrowed plus the interest paid annually for a number of t years.

Mathematically, what we have is that;

$8,640t = $60,000 + interest

Let’s have an expression for the interest!

The interest can be figured in terms of simple interest.

I = PRT/100

in this question, P = $60,000

R = rate = 4.8%

T = t years

On substitution;

I = (60,000 * 4.8 * t)/100 = $2,880t

Now, let’s put this back into that $8640t equation;

$8,640t = $60,000 + interest

$8,640t = $60,000 + $2,880t

$8640t - $2880t = $60,000

5,760t = 60,000

t = 60,000/5,760 = 10.41 years

This is closest to 10 years

f

step-by-step explanation:

f

d. millimeters per hour.

step-by-step explanation:

we are given that,

carlo used a rain gauge to measure the amount of water his lawn is receiving from the sprinklers.

since, according to the options, we see that,

water cannot be measured by 'miles per hour', 'meters per second' and 'grams per seconds'.

we get that, the water can be measured by 'millimeters per hour'.

hence, the appropriate rate for describing the amount of water is 'millimeters per hour'.