Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1/12 of the annual interest rate. You maintain an average balance of $525 on your credit card, which carries a 24% annual interest rate.

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f the borrower, the amount borrowed, and the loan-to-loan value (LTV) ratio. The LTV ratio is the ratio of amount borrowed to appraised value of the home. For example, a homebuyer who wishes to borrow $250,000 with a credit score of 730 and an LTV ratio of 80% will pay 0.5% (0.005) of $250,000, or $1,250. The table shows the LLPA for various credit scores and an LTV ratio of 80%. (see picture)

(a) Construct a function C=C(s), where C is the loan-level price adjustment (LLPA) and s is the credit score of an individual who wishes to borrow $300,000 with an 80% LTV ratio.

(b) What is the LLPA on a $300,000 loan with an 80% LTV ratio for a borrower whose credit score is 725?

(c) What is the LLPA on a $300,000 loan with an 80% LTV ratio for a borrower whose credit score is 670? ​

Step-by-step explanation:

$450

step-by-step explanation:

first, you have to multiply 150x2=300

next, you have to add 150+300= 450

step-by-step explanation:

we are given

since, we have to isolate x on anyone side

so, we can move all x terms on one side

subtract both sides by 2x

add both sides by 9

divide both sides by 4

we get