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Question: HOME REFINANCING Four years ago, Emily secured a bank loan of $200,000 to help finance the purchase of an apartment in Boston. The term of the mortgage is 30 yr, and the interest rate is 9.5%/year compounded monthly. Because the interest rate for a conventional 30-yr home mortgage has now dropped to 6.75%/year compounded monthly, Emily is thinking of refinancing her property.
a. What is Emily's current monthly mortgage payment?
b. What is Emily's current outstanding principal?
c. If Emily decides to refinance her property by securing a 30-yr home mortgage loan in the amount of the current outstanding principal at the prevailing interest rate of 6.75%/year compounded monthly, what will be her monthly mortgage payment?
d. How much less would Emily's monthly mortgage payment be if she refinances?
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Estimate the change in waiting time if the width is increased to 27 ft and R decreases to 0.35. What is the rate of increase in waiting time per 1-ft increase in width when w = 30 and R = 0.32 vehicle per second?
select an amount of money that you would like to invest for example 1000.00. this will be your p0 value.let your
Now after a few years, Terry retired and is in a 15% tax bracket. What is the minimum rate the taxable corporate bonds can pay for Terry to benefit by switching to them?
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a rectangular field is to be enclosed by a fence and divided into 2 rectangular fields by a fence parallel to one sind of the field. if 1200m of fence is availabile find the dimensions of the field giving the greatest area.
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derive the normal equation for fitting the trigonometric curve, p(x) = ao + a1 cos(x) +b1 sin(x)
The height of a circular cone is changing at 1 inches per second (in/sec) and the diameter of its base is changing at -7/10 in/sec. What is the rate of change of its volume when the height is 100 inches and the diameter is 50 inches?
What are some of the key trends that are evolving in healthcare operations management? How are systems and technology streamlining the operations within the departments that are support services? How is healthcare reform impacting the operations m..
The derivative of a continuous function at x is the slope of the tangent line to the curve at x. The attached pdf file develops the idea of a derivative first using slopes of secant lines and then introducing and explaining the difference quotient..
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