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College Mathematics Case Study

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Subject
Mathematics
School
Northern Alberta Institute of Technology
Type
Homework
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Startup Loan a. A = P r(1+r)n (1+r)n −1 A = $1500 0.125 0.125 (2∗12) (1+ ) 12 12 0.125 (2∗12) (1+ ) −1 12 A = $70.96 b. P = 70.96*12 = $851.52 c. Month/ Payment Payment No. Amount 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Mortgage d. a. A = P Interest $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $70.96 $15.63 $15.05 $14.47 $13.88 $13.28 $12.68 $12.08 $11.46 $10.84 $10.22 $9.58 $8.94 $8.30 $7.64 $6.99 $6.32 $5.65 $4.97 $4.28 $3.58 $2.88 $2.17 $1.46 $0.73 r(1+r)n (1+r)n −1 𝑛 r= 1+ 𝑖 𝑝 n –1 2 r= 1+ 0.034 12 –1 Unpaid Balance Reduction $55.34 $55.91 $56.49 $57.08 $57.68 $58.28 $58.89 $59.50 $60.12 $60.75 $61.38 $62.02 $62.66 $63.32 $63.98 $64.64 $65.32 $66.00 $66.68 $67.38 $68.08 $68.79 $69.51 $70.23 Unpaid Balance $1.500.00 $1.444.66 $1.388.75 $1.332.26 $1.275.17 $1.217.50 $1.159.22 $1.100.33 $1.040.83 $980.71 $919.97 $858.59 $796.57 $733.91 $670.59 $606.62 $541.98 $476.66 $410.66 $343.98 $276.60 $208.52 $139.73 $70.23 $0.00 a. A = P r(1+r)n (1+r)n −1 𝑛 r= 1+ 𝑖 𝑝 n r= 1+ 0.034 12 2 –1 2 –1 r = 0.0028135 A = $108,000(0.8) 0.0028135 (1+0.0028135 )(5∗12) (1+0.0028135 )(5∗12) −1 A = $1,570 e. Month/ Payment Payment No. Amount 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 $1.570.00 $1.570.00 $1.570.00 $1.570.00 $1.570.00 $1.570.00 ...
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