Gina needs a $500,000 mortgage and is offered two choices. The monthly payments for the fixed rate and predicted payments for the ARM are shown.
Fixed Rate Mortgage
Year Monthly Payment
1-20 $2,684.10
Adjustable Rate Mortgage
Year Monthly Payment
1-5 $2,533.43
16-20 $2,880.90
What is the difference between the total costs of the mortgages rounded to the nearest hundred? (4 points)
b
$26,400
54,200
514,600
58,300
Od

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step-by-step explanation:

if gloria has "carry over" minutes, (that is, any minutes paid for but not used in a month can be applied to her payment for minutes in the next month,) her total usage for the three months is: total minutes = 320 + 243 + 489 = 1052 minutes number of 200 minute blocks = 1052/200 = 5 r52 (that is 5 with a remainder of 52) rounding up the number of 200 minute blocks gives her usage for the three months as 6 blocks. the cost for six blocks is 6 x $25 = $150 she also has 200 - 52 or 148 carry over minutes if gloria pays each month and unused minutes are lost, applying the rounding up procedure to each month gives: first month usage of 320 minutes rounds up to 2 blocks of 200 minutes for a payment of 2 x $25 = $50 second month usage of 243 minutes rounds up to 2 blocks of 200 minutes for a payment of 2 x $25 = $50 third month usage of 489 minutes rounds up to 3 blocks of 200 minutes for a payment of 3 x $25 = $75 total payments for the three months are $50 + $50 + $75 = $175 get the plan with carry over minutes!

m

step-by-step explanation:

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