Teachers’ Federal Credit Union offers a 3.25%, 10-year mortgage. Moira wants to borrow $380,000 and "purchase" enough negative points to eliminate her $14,000 closing costs. Each negative point reduces the closing costs by 1% of the principal and increases the APR by 0.135%.

step-by-step explanation:

there are 36 inches in a yard

25 : 36 = 0.69 yards (you can round to 0.70)

(a) {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …}

(b) $59 398

step-by-step explanation:

(a) the annual sequence of profits

aₙ = a₁rⁿ⁻¹

the model for the sequence of profits is {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …} .

(b) profit after 15 yr

  a₁ = $ 30 000

  r = 1.05

a₁₅ = 30 000 × 1.05¹⁴

a₁₅ = 30 000 × 1.979 93

a₁₅ = $59 398

the profit in year 15 will be $59 398.

ƒ = 0.03b

hope this ( :

step-by-step explanation: