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

(0,-3) see attached graph

step-by-step explanation:

a. to solve the system, graph the two equations.

x = y+3 becomes y=x-3 has m=1/1 and b=-3. start at (0,-3) on the y-axis and plot a point. then move up 1 unit and 1 unit to the right. plot a point and connect.

y=-4x+3 has m =-4/1 and b=-3. start at (0,-3) on the y-axis and plot a point. then move down four units and to the right 1 unit. plot a point and connect.

the solution is the point (x,y) where the two lines intersect. by the graph below it is (0,-3).

b. to solve by substitution, substitute y = -4x-3 into x= y+3

x= (-4x-3) +3

x=-4x

5x=0

x=0

now substitute x = 0 back in to find y.

y= -4(0)-3

y=0-3

y=-3

solution is (0,-3)

c. use elimination by adding the equations together.

x-y=3

4x+y=-3

5x=0

x=0

then substitute into one equation to find y.

y=-4(0)-3

y=-3

c. (3,2,6) is the answer.

you forgot an image

step-by-step explanation: