Mathematics

Mathematics, 07.12.2019 07:31, hidagiser

If the interest rate for a 15-year fixed rate mortgage is 5.00%, then the corresponding 30-year fixed rate is 6.39%. if the 15-year rate decreases to 4.00%, then the 30-year rate decreases to 4.99%.

a. assume that the relationship between the 15-year fixed rate (%) and the 30-year fixed rate (%) is linear. find the equation of the line that describes this relationship. write your answer in slope-intercept form. let x be the 15-year fixed rate and the y be the 30-year fixed rate.

b. use your equation from part a to estimate the 30-year fixed rate if the 15-year fixed rate is 4.5%.

answer

Answers: 3

Show answers

Similar questions

Предмет

Business, 25.06.2019 22:50, lisamiller

Aborrower is considering three competing mortgage loan offers from her bank. the amount borrowed on the mortgage is $100,000 with monthly compounding. mortgage type stated annual interest rate at initiation of the loan year in which rate first adjusts 30-year fixed rate 5.000% n/a 20-year fixed rate 4.385% n/a 30-year adjustable-rate mortgage (arm) 3.750% 3 the rate on the arm resets at the end of year 3. assuming the arm is permanently reset at 5.500% (i.e., the remaining balance on the loan is assumed to be repaid with a 5.500% stated annual interest), which of the three loans will have the smallest monthly payment after the rate reset at the end of year 3?

Answers: 2

Предмет

Mathematics, 24.07.2019 12:10, portielesc

Theresa is buying a condo that costs $127.500. she has $8,300 in savings and earns $3,200 a month. theresa would like to spend no more than 20% of her income on her mortgage payment. which loan option would you recommend to theresa? a 30 year fixed, 6.5% down at a fixed rate of 5% b. 30 year fha, 3.5% down at a fixed rate of 6.5% c. 30 year fixed, 5% down at a fixed rate of 6.25% d. 30 year fixed, 10% down at a fixed rate of 5.75% select the best answer from the choices provided

Answers: 1

Предмет

Mathematics, 22.08.2019 03:10, chgraypto

Practice 1 2 active 3 4 5 theresa is buying a condo that costs $127.500. she has $8,300 in savings and earns $3,200 a month. theresa would like to spend no more than 20% of her income on her mortgage payment. which loan option would you recommend to theresa? a 30 year fixed, 6.5% down at a fixed rate of 5% b. 30 year fha 3.5% down at a fixed rate of 6.5% c. 30 year fixed 5% down at a fixed rate of 6.25% d. 30 year fixed, 10% down at a fixed rate of 5.75% select the best answer from the choices pro set

Answers: 1

Предмет

Mathematics, 29.09.2019 07:10, idontknowmaths

Theresa is buying a condo that costs $127,500. she has $8,300 in savings and earns $3,200 a month. theresa would like to spend no more than 20% of her income on her mortgage payment. which loan option would you recommend to theresa? a. 30 year fixed, 6.5% down at a fixed rate of 5% b. 30 year fha, 3.5% down at a fixed rate of 6.5% c. 30 year fixed, 5% down at a fixed rate of 6.25% d. 30 year fixed, 10% down at a fixed rate of 5.75%

Answers: 1

Do you know the correct answer?

If the interest rate for a 15-year fixed rate mortgage is 5.00%, then the corresponding 30-year fixe...

Questions in other subjects:

Konu

Mathematics, 31.08.2019 13:30

Petrolyn motor oil is a combination of natural oil and synthetic oil. it contains 3 liters of natural oil for every 2 liters of synthetic oil. if 204 liters of natural oil are used...

Konu

Social Studies, 31.08.2019 13:30

What is the abandonment of tenancy laws in scotland?...

Konu

Biology, 31.08.2019 13:30

Which of the following is just fossilized calcareous algae a) a coprolite b) an ostracod c) an ammonite d) a stromatolite...

Konu

Physics, 31.08.2019 13:30

Vector a is 2.80 cm long is 60 degrees above x-axis in the first quadrant. vector b is 1.90 cm long and is 60 degrees below the x-axis in the fourth quadrant. show the proper equat...

Konu

Chemistry, 31.08.2019 13:30

How many moles are there in 5.75 x 10^24 atoms of aluminum...

Konu

Geography, 31.08.2019 13:30

What kind of climate does guyana have? a: dry and very cold b: hot and dry c: tropical d: cold and rainy...

Konu

Health, 31.08.2019 13:30

Does lack of sleep cause facial hair growth...

Konu

Biology, 31.08.2019 13:30

How are genetic mutations passed from parent to offspring?...

Konu

English, 31.08.2019 13:30

Read the word and root word, and then answer the question. word: imperceptible root word: perceive based on the root word, what is the definition of imperceptible?

Konu

English, 31.08.2019 13:30

"to dig the channels through which the moral life of his countrymen might flow" is an example of language....

Other tasks in the category: Mathematics More task