A loan used for buying a home is called a mortgage. The Fortunato family is buying a $100,000 home. They are taking out a 30-year mortgage at a rate of 8%. A. Compute the monthly payment. B. Find the total of all of the monthly payments for the 30 years. C. What is the finance charge? d. What would be the payment if the loan was a 15-year mortgage? Is it twice as much? To the nearest thousand, what is the savings in finance charges.

fd

step-by-step explanation:

answer: solve 5\cdot 2^x=2405⋅2  

x

=2405, dot, 2, start superscript, x, end superscript, equals, 240.

solution

to solve for xxx, we must first isolate the exponential part. to do this, divide both sides by 555 as shown below. we do not multiply the 555 and the 222 as this goes against the order of operations!

\begin{aligned} 5\cdot 2^x& =240 2^x& =48 \\ \end{aligned}  

5⋅2  

x

2  

x

​    

=240

=48

​

step-by-step explanation:

for future students the answer is b

hope i

-lavira: )