You are applying for an 80/20 mortgage to buy a house costing $145,000. the first (80%) mortgage has an interest rate of 4.75%, and the second (20%) mortgage has an interest rate of 7.525%. both the first mortgage and the second mortgage are 30-year fixed-rate mortgages. what will the total amount of the mortgage be?

$291,016.80

A is correct.

Step-by-step explanation:

You are applying for an 80/20 mortgage to buy a house costing $145,000.

Loan Formula:

Case 1:

Loan amount, P = 80% of 145000 = $ 116,000

Rate of interest, r = 4.75% = 0.0475

Time of loan, n = 30 years = 360 months

Substitute the values into formula.

Total payment for case 1: 605.11 x 360 = $217,839.60

Case 2:

Loan amount, P = 20% of 145000 = $ 29,000

Rate of interest, r = 4.75% = 0.07525

Time of loan, n = 30 years = 360 months

Substitute the values into formula.

Total payment for case 1: 203.27 x 360 = $73,177.20

Total amount of the mortgage = $217,839.60 + $73,177.20

                                                    = $291,016.80

Hence, The total amount of the mortgage is $291,016.80

answer: a video game has three difficulty levels: easy, medium, and expert. the game's scoring works in such a way that a player has to score a fixed number of points to advance to the next level, and then the scoring starts over. the total score needed to clear all three difficulty levels is 7,500. two times the number of points needed to clear the easy level is 500 more than the number of points needed to clear the medium level. twice the number of points needed to clear the medium difficulty level is 1,500 more than the number of points needed to clear the expert level. if x, y, and z represent the easy, medium, and expert levels, respectively, and a is the coefficient matrix of the system of equations modeling this situation, identify the inverse matrix, a-1, and the solution matrix, x, of the system of equations.

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