Neil's bank offered him a 4.95% interest rate for his mortgage. If he
purchases 3 points, what will his new rate be?
O A. 0.375%
O B. 4.575%
C. 1.75%
O D. 4.375%

Answers

Answer 1
I honestly think it’s C
Answer 2

Neil's new interest rate after purchasing 3 points would be 7. 95%. The closest option is B. 4.575%.

How to calculate the interest rate?

To calculate the new interest rate after purchasing points, we need to know the cost of one point and the number of points purchased.

One point typically costs 1% of the mortgage amount, so three points would cost 3% of the mortgage amount. The cost of the points is usually paid upfront at closing.

Assuming Neil's mortgage amount is $100,000, the cost of 3 points would be:

3% x $100,000 = $3,000

To calculate the new interest rate, we need to add the cost of the points to the original interest rate and then recalculate it as a percentage:

New rate = Original rate + (Cost of points / Mortgage amount)

New rate = 4.95% + ($3,000 / $100,000)

New rate = 4.95% + 3%

New rate = 7.95%

So, Neil's new interest rate after purchasing 3 points would be 7. 95%. The closest option is B. 4.575%.

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Related Questions

What is the permittee of the shaded figure ?? Please help

Answers

Answer: 96

Step-by-step explanation:

12x6= 96

times 12 which is the y axis and 6 which is the x axis. which would give you the shaded figure.

Abargain clothing store is selling 5 shirts for $20.
Louis said, "I can buy 2 shirts for $8."
William said, "I can buy 1 shirt for $4."
Which statement is TRUE?
A
Only Louis's statement is true.
B
Only William's statement is true.
Both Louis and William's statements are true
D
Neither Louis nor William's statements are true.

Answers

Answer: Both of their statements are true. Explanation: If you can buy 5 shirts for $20, that means the unit price would be $4 per shirt. (to find the unit price just divide the cost by the quantity) So, it is true that you can buy one shirt for $4 and 2 shirts for $8. Hopefully this helps.

2.Yolanda is buying supplies for school. She buys n packages of pels at $1.40 per package and m pads of paper at $1.20 each. What does each term in the expression 1.4n + 1.20m represent? What does the entire expression represent? Interpret the meaning of the term 1.4n. What does the coefficient 1.4 represent? Interpret the meaning of the term 1.20p. What does the coefficient 1.20 represent?

Answers

Answer: 1.4n represents the cost of n packages of pels.

1.20m represents cost of m pads.

Entire expression 1.4n + 1.20m represents total cost of n packages of pels and m pads.

Meaning of 1.4n  =  cost of n packages of pels.

Meaning of 1.20 m = represents cost of m pads.

where , 1.4 = Cost per package of pels

1.2 =Cost per pad of paper

Step-by-step explanation:

Given: Cost per package of pels = $1.40

Cost per pad of paper = $1.20

Number of packages of pels bought = n

Number of pads of paper bought = m

So, 1.4n represents the cost of n packages of pels.

1.20m represents cost of m pads.

Entire expression 1.4n + 1.20m represents total cost of n packages of pels and m pads.

Meaning of 1.4n  =  cost of n packages of pels.

Meaning of 1.20 m = represents cost of m pads.

where , 1.4 = Cost per package of pels

1.2 =Cost per pad of paper

If fabric costs $4 a foot, which graph below shows this relationship?
A. Graph A
B. Graph B
C. Graph C
D. Graph D

Answers

Answer:

Graph A

Step-by-step explanation:

Answer:

A.)

Step-by-step explanation:

since here using for example just one foot is (1,4) add another (2,8) since you are doubleing the price. and the rest are just going in weird derections.

I need help getting my grades up, any help would be very appreciated

Answers

Answer:

I can help but it depends on what. I have pretty good grades

Step-by-step explanation:

Answer:

i can do history all the history u have i can do it no maps though no math i can also do language arts

Step-by-step explanation:

2x + 1 = 2x - 1 how many solutions?

Answers

Answer:

the answer is 2

Step-by-step explanation:

Is the following relation a function?


Need answer now

Answers

Answer: No, it is not a function

If you can draw a vertical line through more than one point on the curve, then it's not a function. In this case, we can draw such a line. The graph is said to have failed the vertical line test.

What this means is that some x inputs lead to more than one y outputs. A function is only possible if any x input leads to exactly one y output. The x input must be in the domain.

Answer:

It is not a function.

Step-by-step explanation:

A relation's inputs are not repeated in a function.

Since the graph fails the vertical line test, it is not a function.

See picture.

Hope this helps.

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Answers

a lot trust me only like the first few chapters are only algebra 1 stuff other than that it’s mostly all new

Answer:

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Step-by-step explanation:

Can I get Help on explaination of this?

Answers

Answer:

The measure of the outside angle is the sum of the two inside angles:

68+52=120

Or you could do it the long way and find the third angle inside the triangle then do 180 minus that but this is easier.

Step-by-step explanation:

can someone please help me with this question​

Answers

Answer:

16 the answer

Step-by-step explanation:

help me wth ths qustion

Answers

Answer:

62

Step-by-step explanation:

im pretty sure this is right. sry if its not.

Answer:

62

Step-by-step explanation:

1) 10^3 = 1000

2) 1000 x .062=62

Help me pleaseeeeee!!!!!

Answers

Answer:

A

Step-by-step explanation:

what is the equation of the line containing the points (4,2) and (-5, 1)? Write your answer in slope-form. PPPPPLLLLLLLLLLLEEEEEEEEASE HELP

Answers

Answer:

y=-1/9x+2.44

Step-by-step explanation:

m=y2-y1/x2-x1

1-2=(-1)

(-5)-4=(-9)

-1/9

y=mx+b

2=-1/9(4)+b

-1/9*4=-0.44444444444

-0.444.... rounded is -0.44

(-0.44)-(-0.44) =0

2-(-0.44 )=2.44

y=-1/9x+2.44

hope this helps

sorry if im wrong i had a lil trouble on this one :(

I have a time limit please hurry!

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The domain of the relation is {
} and the range of the relation is {
}.

Answers

The domain of the relation is 7,13 and the range of the relation is 4,20. I hope this helps.

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Answers

Answer:

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Step-by-step explanation:

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Answer:

The slope is 5/2

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m=10-5/4-2

m=5/2

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Answers

Answer:

depends on what x is

Step-by-step explanation:

Answer:

If this problem is set to zero 1x+34=0 then no.

Step-by-step explanation:

1x+34=0

Step one subtract -34 from both sides.

1x=-34

Step two divided by one.

x=-34

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

$49.12

Step-by-step explanation:

Help with a and b? Thank you

Answers

Step-by-step explanation:

 Given data:

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          60          21          3

The data represents the number of cars on a single day.

Find the relative frequency;

It is the number of times an event occurs.

Here the time frame is within a day;

  Relative frequency = [tex]\frac{number of cars + number of vans + others}{number of days}[/tex]  

  Relative frequency  = 60 + 21 + 3  = 84vehicles per day

ii.

Number of vans in a week;

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At the party ⅗ of a pie are eaten.
Jo eats ⅘ of what is left.
What fraction of the pie does Jo eat?
(could you show your work:))​

Answers

Answer:

1/10 of the pie

Step-by-step explanation:

Step-by-step explanation:

5/5-3/5=2/5

2/5-4/5 of itself

This leave 1/5 of 2/5

if we make this decimals then it becomes 0.40

0.40/5=0.08

or 8/100,4/50,2/25

Lily has already jarred 1 liter of jam and will jar an additional 4 liters of jam every day. Write
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Write your answer as an equation with j first, followed by an equals sign.

Answers

Answer:

j = 4d + 1

Step-by-step explanation:

j is total jam that is jarred

4d is 4 times however many days

+ 1 is the one jar she already jarred from the beginning

?...

1 + (-2 - 5) to the 2nd power + -3 x 4​

Answers

Answer:

-3

Step-by-step explanation:

(1 + (-2-5))^2+-3X4

(1+(-3))^2 + -12

-3^2 -12

9-12

-3

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Answers

12 - 19 = -7

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Answers

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A.
maximum
B.
minimum
C.
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D.
Not Enough Information

Answers

Answer:

A). minimum

Step-by-step explanation:

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Answers

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Step-by-step explanation:

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Answers

Answer:0.64

Step-by-step explanation:

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write QF if it's Quadratic function and NQF if Not a Quadratic function​

Answers

Answer:

1. QF2. NQF3.  NQF4. QF5. QF6. Undefined, unclear

Step-by-step explanation:

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It is a quadratic function as in the format of y = ax^2 + bx + c

2. f(x) = 2x - 10

It is linear function, not quadratic

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y = 1/2x^2 + 1/2xIt is a quadratic function

5. The graph is parabola

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6. Undefined as not clear what is it

suppose that 65% of people have brown hair and 90% of the people are right handed
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Answers

a. 65/100 x 90/100
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Sean has 9 liters of juice. He pours equal amounts of the juice into 4 pitchers. There is 0.5 of a liter of juice left. How many liters of juice are in each pitcher? Sean has 9 liters of juice. He pours equal amounts of the juice into 4 pitchers. There is 0.5 of a liter of juice left. How many liters of juice are in each pitcher?

plz i will give u 38 to 48 points plzzzzzzzz

Answers

2.125 liters
(9-0.5)/4
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